The Nigerian National Petroleum Company Limited (NNPC Ltd.) has secured a major legal victory at the Court of Appeal, Abuja Division, overturning an earlier judgment that awarded ₦5 billion in damages to Senator Ifeanyi Araraume.
On August 8, 2025, the appellate court upheld NNPC Ltd.’s appeal against the Federal High Court’s April 2023 decision, which had annulled Araraume’s removal as Non-Executive Chairman of the NNPC Board.
That ruling had also raised the possibility of invalidating all Board decisions made since 2021.
The Court of Appeal ruled in favour of NNPC Ltd., agreeing that the earlier decision was delivered in error and finding that Araraume’s claim was statute-barred. The verdict spares NNPC Ltd. a substantial financial payout and removes a significant legal risk to its operations.
This judgment not only preserves the governance stability of NNPC Ltd. but also sets an important corporate governance precedent in Nigerian law. It further secures the validity of Board resolutions seen as critical to investment confidence and policy direction in the nation’s oil and gas industry.
