Business
Setting the record straight: Meritocracy and milestones at NNPC, By Olufemi Soneye

It is important to address the concerns raised in Farooq Kperogi’s recent article, “Tinubu’s Buharisation of the NNPC”, and to clarify some of the misconceptions about the operations and leadership structure of the Nigerian National Petroleum Company (NNPC) Limited.
First, employment, promotions, appointments, and movements of business leaders at the NNPC are not influenced by ethnicity, tribe, religion, or political affiliation. Therefore, decisions within the NNPC are guided strictly by merit, business requirements, and expertise.
This approach ensures that only the most qualified and competent individuals occupy positions that are critical to the company’s success. It is significant that our company focuses on efficient and effective service delivery, which is anchored on the commitment of qualified work team.
The NNPC prides itself on being a professional organisation with a diverse leadership lineup that includes individuals from various parts of the world, not just Nigeria. The presence of qualified foreigners in the employ of the NNPC, who have been bolstering the value chain of production and distribution of allied products, is verifiable.
It is, thus, sad that a professor of Mr Kperogi’s standing would resort to and play up the issue of ethnic identities in the configuration of the work team in NNPC just to demonise President Tinubu.
This editorial preoccupation of Mr Kperogi is nothing but sheer red herring, ostensibly orchestrated to detract the President’s disciplined leadership that upholds the freedom of the NNPC as well as the company’s work ethic that has produced its strings of sterling performances.
Under the leadership of Mele Kyari, the NNPC has achieved remarkable milestones and recorded several “firsts” in the industry.
These milestones were not defined, coloured or contoured by primordial fault-lines of tribe and religion. They were inspired by the collective drive for excellence.
These milestones include groundbreaking advancements in exploration, production, and global partnerships that were previously thought unattainable.
This success is a testament to the company’s focus on competence and professionalism rather than on parochialism as insinuated in the editorial offerings by Mr Kperogi.
Regarding Mr Kperogi’s notions about President Bola Ahmed Tinubu, it is essential to highlight that Mr President has not interfered in the operations or leadership movements within the NNPC. On the contrary, his administration has introduced transformative policies that have added immense value to the oil and gas sector and the broader Nigerian economy.
President Tinubu’s approach has been to empower institutions like the NNPC to operate independently while fostering a conducive environment for growth and innovation.
His reforms have set a benchmark that has significantly improved the sector, surpassing the achievements of many of his predecessors.
It is disappointing that individuals like Mr. Kperogi, who have lived and observed governance structures abroad, would overlook these accomplishments and focus on divisive narratives.
Symbolism, while important, must not overshadow the substantive achievements and transformative impact of policies and leadership on national development.
We extend an open invitation to Mr. Kperogi to visit the NNPC and witness firsthand the professionalism, sacrifices, and daily efforts that go into driving Nigeria’s economic engine.
He will see a team that works tirelessly to contribute to the growth of our economy and the prosperity of our nation.
The NNPC remains committed to fostering unity, embracing diversity, and upholding the principles of meritocracy. It is through such commitments that we can continue to work to achieve and strengthen national cohesion and position Nigeria as a global leader in the energy sector.
We urge commentators and stakeholders alike to base their assessments on hard facts and evidence, rather than conjectures, for the greater good of our nation.
■ Olufemi Soneye is the Chief Corporate Communications Officer of the NNPC Ltd.
Business
George Elombi is Afreximbank’s new president
He succeeds Benedict Oramah, a professor, who has served as President and Chairman of the Board of Directors since 2015, and who will be stepping down in September.

The shareholders of the African Export-Import Bank (Afreximbank) have appointed George Elombi as the next President and Chairman of the Board of Directors of the continental financial institution.
He becomes the fourth president to lead the bank since its establishment in 1993.
His appointment was one of the key decisions of the 32nd Afreximbank group annual meetings and associated events held in Abuja, Nigeria, from 25 to 28 June, with the formal annual general meeting of shareholders taking place on Saturday.
He succeeds Benedict Oramah, a professor, who has served as President and Chairman of the Board of Directors since 2015, and who will be stepping down in September.
A Cameroonian national, Mr Elombi has been with Afreximbank since 1996, as a Legal Officer.
He rose through the ranks to become Executive Vice President, Governance, Legal and Corporate Services.
Over his nearly three decades at the bank, he has served as director and executive secretary (2010–2015); deputy director, legal services / executive secretary (2008–2010); chief legal officer (2003–2008); and senior legal officer (2001–2003).
Business
NRS Chair: New tax laws won’t be implemented until January
According to Adedeji, the Federal Inland Revenue Service, FIRS by the signing of the bills into Law is now the Nigeria Revenue Service (NRS), explaining that the new law now defines the NRS’s expanded mandates…

•President Bola Tinubu shake hands with NRS Chairman, Zach Adedeji.
The Chairman of the Nigeria Revenue Service (formerly FIRS), Zach Adedeji, has disclosed that the implementation of the newly signed four tax fiscal reform laws will commence by January 1st, 2026.
Adedeji told State House correspondents shortly after the President signed the bills into law, the previous day.
Adedeji said that the modalities will be put in place ahead of the implementation.
Adedeji further explained that the six-month period between the enactment of the new fiscal laws is designed to give ample time to those saddled with the implementation to carefully prepare and ensure that all Nigerians are adequately sensitised.
According to Adedeji, the Federal Inland Revenue Service, FIRS by the signing of the bills into Law is now the Nigeria Revenue Service (NRS), explaining that the new law now defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.
Business
President Tinubu List Economic Expectations from New Tax Laws
On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.

President Bola Tinubu said today that the four tax reforms bills he signed into law reflect his administration’s resolve to create a modern, transparent, and efficient tax system capable of supporting national development, promoting investment, and reducing the burden of multiple taxation on citizens.
President Tinubu explained that the laws would be unifying Nigeria’s fragmented tax system, remove redundant overlaps, boost investor confidence, enhance transparency, and promote coordinated efforts across all levels.
He also described the legislation as a clear departure from previous policies, emphasising that the reforms are designed to ease the burden on working families, small businesses, and low-income earners while eliminating inefficiencies that have long plagued Nigeria’s fiscal structure.
On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.
“We are also building a framework for the Nigeria of tomorrow-leaner, fairer and laser focused on unlocking opportunities for all,” he said.
He added : ” These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet.
Designed to overhaul Nigeria’s fiscal and revenue administration framework, the laws which have been described as a major leap in the nation’s economic reform drive.
“For too long, our tax system has been a patchwork-complex, inequitable, and burdensome. It has weighed down the vulnerable and shielded inefficiency. That era ends today.”
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