Abuja — For the first time since 2020, Nigeria’s rig count, which had been on the decline, soared to 11 in August, signalling readiness by the Nigerian National Petroleum Corporation (NNPC) and its partners to pump more oil. This was just as President Muhammadu Buhari, in his capacity as Minister of Petroleum Resources, yesterday triggered Section 53(1) of the new Petroleum Industry Act (PIA) by directing the incorporation of the Nigerian National Petroleum Company (NNPC) Limited under the new law. The president also approved the formation of a new board, which would be overseen by Senator Ifeanyi Ararume, a career politician from Imo State. The significance of this appointment is that the president has appointed a south-easterner into a high profile federal position and in a critically sensitive government company. It is also worthy of note that the new board is made up of three women namely: Mrs. Lami […]