Section 35: Functions of the Board of the Authority.

The Board of the Authority shall—
(a) be responsible for the formulation of policy, supervision and giving strategic direction to the Authority;
(b) provide general guidance for the carrying out of the functions of the Authority;
(c) review and approve the business, strategic and operating plans of the Authority;
(d) consider and approve the annual budget of the Authority before submission to the National Assembly for appropriation;
(e) approve the management accounts and audited accounts of the Authority and consider the management letter from the external auditors;
(f) determine the terms and conditions of service of employees of the Authority;
(g) recommend remuneration, allowances, benefits and pensions of employees of the Authority in consultation with the National Salaries, Incomes and Wages Commission, having regard to the—
(i) specialised nature of work to be performed by the Authority,
(ii) need to ensure the financial self-sufficiency of the Authority, and
(iii) remuneration and allowances paid in the private sector in upstream petroleum operations to individuals with equivalent responsibilities, expertise and skills;
(h) structure the Authority into such number of departments as it deems fit for the effective performance of the functions of the Authority; and
(i) performance of other functions as may be necessary for the efficient and effective administration of the Authority under this Act.