BREAKING: NNPC Wins Landmark Appeal, Escapes ₦5 Billion Damages in Araraume Case

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) has secured a major legal victory after the Court of Appeal, Abuja Division, overturned a Federal High Court ruling that had awarded Senator Ifeanyi Araraume ₦5 billion in damages over his removal as Non-Executive Chairman of the NNPC Board.

The appellate court, in its judgement delivered on August 8, 2025, upheld NNPC Ltd.’s appeal and ruled that the earlier decision of the Federal High Court in April 2023 was made in error. The court noted that the claim brought forward was statute-barred and therefore invalid.

This ruling not only spares NNPC Ltd. from a massive financial payout but also safeguards the validity of all decisions made by its Board since 2021, which could have been jeopardized by the earlier judgement.

Legal analysts say the decision sets a strong corporate governance precedent in Nigerian law while ensuring continued governance stability for NNPC Ltd. — a critical factor for investor confidence and policy direction in the oil and gas industry.

The company, in a statement signed in Abuja on August 13, 2025, described the judgement as a milestone that strengthens its position as a reformed national energy company.