The Somali Petroleum Authority (SPA) last week announced the appointment of six Independent Directors to its Board, following the approval of the Prime Minister and the Council of Ministers. The Board is to oversee all the activities of the SPA to ensure it develops a sustainable and competitive industry in the interests of Somalian.
The appointees each represent a Member State and one Independent Director representing the Federal Government. The appointments succeed the appointment of Ibrahim Hussein as Chairman and Chief Executive of the Authority, representing the FG and par the provisions of the Petroleum Law. The appointed members of the Authority are:
- Asha Osman Ahmed, Vice Chair and Board Member representing Banadir Regional Authority
- Ibrahim Ahmed Layte, Board Member representing Hirshabelle State
- Abdulkadir Aden Mohamud, Board Member representing Galmudug State
- Ibrahim Abdulkadir Mohamed, Board Member representing South West State
- Ahmed Haji Abdi, Board Member representing Jubaland State
- Abdihafid Ali Dirir, Board Member representing Somaliland State
- Mahad Mohamed Sh. Hassan, Board member representing the Federal Government
There are nine positions on the Board of the Authority representing Members States and two representatives of the FG. The Board is to look into the long-term objectives of being one of the leading petroleum authorities in the world. The Board is to effectively carry out all its activities following the core values of the SPA which are:
- Respectful and understanding of all our stakeholders
- Operate to the highest standards of excellence and integrity
- Be transparent and collaborative as a global citizen
- Accountable and resilient in delivering for the Somali people
Speaking on the appointment, the Chairman and Chief Executive of the SPA, Ibrahim Hussein said, “We are very excited to welcome new colleagues onto the Board of the newly established SPA, as together we work to develop the country’s petroleum industry. The structure of our Board will ensure that all the Member States are able to help shape the development of the industry in the interests of the whole country. The SPA is committed to rigorous standards of corporate governance in order to achieve our goal of attracting international investment to maximize the economic recovery of the country’s oil and gas reserves. This will enable Member States to significantly increase investment in education, transport, agriculture and healthcare infrastructure.”
/strong%20last%20week%20announced%20the%20appointment%20of%20six%20Independent%20Directors%20to%20its%20Board,%20following%20the%20approval%20of%20the%20Prime%20Minister%20and%20the%20Council%20of%20Ministers.%20The%20Board%20is%20to%20oversee%20all%20the%20activities%20of%20the%20SPA%20to%20ensure%20it%20develops%20a%20sustainable%20and%20competitive%20industry%20in%20the%20interests%20of%20Somalian.The%20appointees%20each%20represent%20a%20Member%20State%20and%20one%20Independent%20Director%20representing%20the%20Federal%20Government.%20The%20appointments%20succeed%20the%20appointment%20of%20Ibrahim%20Hussein%20as%20Chairman%20and%20Chief%20Executive%20of%20the%20Authority,%20representing%20the%20FG%20and%20par%20the%20provisions%20of%20the%20Petroleum%20Law.%20The%20appointed%20members%20of%20the%20Authority%20are:ol%20liAsha%20Osman%20Ahmed,%20Vice%20Chair%20and%20Board%20Member%20representing%20Banadir%20Regional%20Authority/li%20liIbrahim%20Ahmed%20Layte,%20Board%20Member%20representing%20Hirshabelle%20State/li%20liAbdulkadir%20Aden%20Mohamud,%20Board%20Member%20representing%20Galmudug%20State/li%20liIbrahim%20Abdulkadir%20Mohamed,%20Board%20Member%20representing%20South%20West%20State/li%20liAhmed%20Haji%20Abdi,%20Board%20Member%20representing%20Jubaland%20State/li%20liAbdihafid%20Ali%20Dirir,%20Board%20Member%20representing%20Somaliland%20State/li%20liMahad%20Mohamed%20Sh.%20Hassan,%20Board%20member%20representing%20the%20Federal%20Government/li/olThere%20are%20nine%20positions%20on%20the%20Board%20of%20the%20Authority%20representing%20Members%20States%20and%20two%20representatives%20of%20the%20FG.%20The%20Board%20is%20to%20look%20into%20the%20long-term%20objectives%20of%20being%20one%20of%20the%20leading%20petroleum%20authorities%20in%20the%20world.%20The%20Board%20is%20to%20effectively%20carry%20out%20all%20its%20activities%20following%20the%20core%20values%20of%20the%20SPA%20which%20are:ul%20liRespectful%20and%20understanding%20of%20all%20our%20stakeholders/li%20liOperate%20to%20the%20highest%20standards%20of%20excellence%20and%20integrity/li%20liBe%20transparent%20and%20collaborative%20as%20a%20global%20citizen/li%20liAccountable%20and%20resilient%20in%20delivering%20for%20the%20Somali%20people/li/ulSpeaking%20on%20the%20appointment,%20the%20Chairman%20and%20Chief%20Executive%20of%20the%20SPA,%20Ibrahim%20Hussein%20said,%20em“We%20are%20very%20excited%20to%20welcome%20new%20colleagues%20onto%20the%20Board%20of%20the%20newly%20established%20SPA,%20as%20together%20we%20work%20to%20develop%20the%20country’s%20petroleum%20industry.%20The%20structure%20of%20our%20Board%20will%20ensure%20that%20all%20the%20Member%20States%20are%20able%20to%20help%20shape%20the%20development%20of%20the%20industry%20in%20the%20interests%20of%20the%20whole%20country. %20The%20SPA%20is%20committed%20to%20rigorous%20standards%20of%20corporate%20governance%20in%20order%20to%20achieve%20our%20goal%20of%20attracting%20international%20investment%20to%20maximize%20the%20economic%20recovery%20of%20the%20country’s%20oil%20and%20gas%20reserves.%20This%20will%20enable%20Member%20States%20to%20significantly%20increase%20investment%20in%20education,%20transport,%20agriculture%20and%20healthcare%20infrastructure.”/em a%20href=https://ibekachikwu.com/wp-content/uploads/2020/10/759df552-320f-4698-b05b-695c7075681c.jpgimg%20class=size-full%20wp-image-2980%20aligncenter%20src=https://ibekachikwu.com/wp-content/uploads/2020/10/759df552-320f-4698-b05b-695c7075681c.jpg%20alt=%20width=300%20height=190%20//a){kind=link}