The minister will be replaced by Dr Maikanti Kacalla Baru, as the new GMD of the corporation.
The President also approved the composition of the Board of the Nigerian National Petroleum Corporation (NNPC), as provided for under Section 1(2) of the NNPC Act of 1997, as amended.
This was contained in a statement issued by the Special Adviser, Media and Publicity to the President, Mr. Femi Adesina in Abuja on Monday.
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According to the statement, Kachikwu will be the chairman of the board of directors, which has the Chief of Staff to the President, Mallam Abba Kyari as a member.
Other members include Group Managing Director, Dr Maikanti Kacalla Baru; the Permanent Secretary of the Federal Ministry of Finance.
Also in the board are Dr Thomas M.A John, Dr Pius O. Akinyelure, Dr Tajuddeen Umar, Mallam Mohammed Lawal, and Mallam Yusuf Lawal.
The President urged the new board to ensure the successful delivery of the mandate of the NNPC.
The statement reads in parts “President Muhammadu Buhari has approved the composition of the Board of the Nigerian National Petroleum Corporation (NNPC), as provided for under Section 1(2) of the Nigerian National Petroleum Corporation Act of 1997, as amended.
“The new board is composed of the following: A Chairman-Dr Emmanuel Ibe Kachikwu, Honourable Minister of State for Petroleum; B. Group Managing Director-Dr Maikanti Kacalla Baru; C. The Permanent Secretary of the Federal Ministry of Finance; and D. The following six persons: 1. Mallam Abba Kyari, 2. Dr Thomas M.A John, 3. Dr Pius O. Akinyelure, 4. Dr Tajuddeen Umar, 5. Mallam Mohammed Lawal, and 6. Mallam Yusuf Lawal.
“President Buhari urges 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.”