The Nigerian National Petroleum Company Limited, NNPC Ltd, has secured a major legal victory after the Court of Appeal, Abuja Division, overturned a 2023 Federal High Court ruling that awarded N5 billion in damages to Senator Ifeanyi Araraume.
Delivering judgment on August 8, 2025, the appellate court upheld NNPC Ltd.’s appeal, ruling that the claim over Araraume’s removal as non-executive chairman of the NNPC Board was statute-barred.
The decision spares the national oil company a massive financial payout and eliminates a legal risk that could have nullified all board decisions since 2021.
In a statement on Wednesday, NNPC Ltd hailed the verdict as a win for corporate governance stability.
The judgment also sets a legal precedent on board appointments in Nigeria’s oil and gas industry, safeguarding policy and investment decisions taken by the company over the past four years.
