By Chidi Ugwu
The NNPC Limited has announced that a major court victory stating that on August 8, 2025, the Court of Appeal in Abuja ruled in favor of NNPC Limited, overturning a Federal High Court decision from April 2023 that had annulled the removal of Senator Ifeanyi Araraume as non-executive Chairman of the NNPC Board and awarded him ₦5 billion in damages.
In a statement on Wednesday, the company said that the appellate ruling spares NNPC Ltd from a substantial financial liability and eliminates a significant legal threat that could have invalidated all Board decisions made since 2021. The Court of Appeal found that the previous ruling was flawed, highlighting that the claim was statute-barred.
This landmark judgment not only safeguards the stability of NNPC Ltd’s governance but also establishes an important precedent in Nigerian corporate law. It reaffirms the legitimacy of Board resolutions essential to the oil and gas sector’s investment climate and policy implementation.
