President Bola Tinubu has dismissed the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, alongside Board Chairman Pius Akinyelure and other board members.
In a statement issued on Wednesday, April 2, by Presidential Adviser on Information and Strategy, Bayo Onanuga, Tinubu announced a complete overhaul of the 11-member NNPCL board, replacing all officials appointed in November 2023.
The president appointed Bashir Bayo Ojulari as the new GCEO and Ahmadu Musa Kida as the Non-Executive Chairman. Adedapo Segun was named the Chief Financial Officer, while six non-executive directors were appointed to represent Nigeria’s geopolitical zones.
The newly appointed non-executive directors include: Bello Rabiu (North West), Yusuf Usman (North East) Babs Omotowa (North Central) Austin Avuru (South-South), David Ige (South West) Henry Obih (South East).
Additionally, Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, and Aminu Said Ahmed from the Ministry of Petroleum Resources have been included on the board.
Strategic Reforms and Investment Targets
President Tinubu cited Section 59(2) of the Petroleum Industry Act (PIA) 2021 as the legal basis for the shake-up, stating that the move aims to improve operational efficiency, restore investor confidence, enhance local content, and accelerate gas commercialisation.
He directed the new board to undertake a strategic portfolio review of NNPCL’s operated and joint venture assets to align them with value maximisation goals.
The Tinubu administration has been implementing reforms in the oil sector to attract investment, with NNPCL securing $17 billion in new investments in 2023. The government aims to increase this to $30 billion by 2027 and $60 billion by 2030.
Further targets set by the administration include: Oil production: 2 million barrels per day by 2027, rising to 3 million by 2030. Gas production: 8 billion cubic feet daily by 2027, increasing to 10 billion by 2030. Crude refining output: 200,000 barrels per day by 2027, reaching 500,000 barrels by 2030.
Profiles of New Appointees
Ahmadu Musa Kida – NNPCL Board Chairman
Kida hails from Borno State and holds a civil engineering degree from Ahmadu Bello University, Zaria. He later obtained a postgraduate diploma in petroleum engineering from the Institut Français du Petrol (IFP) in Paris.
He began his career at Elf Petroleum Nigeria before moving to Total Exploration and Production, where he rose to become Deputy Managing Director of Deep-Water Services in 2015. In 2024, he served as an Independent Non-Executive Director at Pan Ocean-Newcross Group.
Bashir Ojulari – NNPCL Group CEO
Bashir Bayo Ojulari, from Oke Ode in Ifelodun Local Government Area of Kwara State, previously held the position of Executive Vice President and Chief Operating Officer at Renaissance Africa Energy Company.
An alumnus of Ahmadu Bello University, Zaria, he started his career as a process engineer at Elf Aquitaine before joining Shell Petroleum Development Company in 1991. In 2015, he was appointed Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO).
President Tinubu expressed gratitude to the outgoing board members for their contributions, particularly their role in rehabilitating the Port Harcourt and Warri refineries, which recently resumed petroleum production after years of inactivity.
By Dare Akogun
