President Muhammadu Buhari, Monday, replaced Ibe Kachikwu as Group Managing Director (GMD) of Nigerian National Petroleum Corporation (NNPC).
He was succeeded by Dr. Maikanti Kacalla Baru.
Until his replacement Monday, Kachikwu, doubled as Minister of State for Petroleum Resources.
The President also approved the composition of the Board of the corporation as provided for under Section 1(2) of the Nigerian National Petroleum Corporation Act of 1997, as amended.
A statement signed by the President’s spokesman, Femi Adesina, announced the new board as consisting of Kachikwu as chairman with new Group Managing Director, Dr. Maikanti Kacalla Baru; Permanent Secretary of the Federal Ministry of Finance; Mallam Abba Kyari, Dr. Thomas M.A. John, Dr Pius O. Akinyelure, Dr. Tajuddeen Umar, Mallam Mohammed Lawal, and Mallam Yusuf Lawal.
According to the statement, President Buhari urged the new board to ensure the successful delivery of the mandate of the NNPC, and serve the nation by upholding the public trust placed on them in managing this critical national asset.