Tinubu Reorganizes NNPC Leadership in Sweeping Revamp
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President Bola Tinubu has disclosed substantial restructuring of the Nigerian National Petroleum Company (NNPC) Limited, effective from April 2, 2025. The restructurings involved the exiting of the present Group Chief Executive Officer (GCEO), Mele Kyari, and NNPC Limited Board Chairman, Pius Akinyelure. Stepping in for them, Bashir Bayo Ojulari becomes the new GCEO, while Ahmadu Musa Kida becomes the non-executive chairman of the new 11-member reconstituted Board. The statement, issued early Wednesday morning through a press release by the presidential spokesperson, Bayo Onanuga, also made public the removal of the other board members who were appointed alongside Akinyelure and Kyari in November 2023. New NNPC Limited Board Composition The reorganized 11-member board now consists of: Group CEO: Bashir Bayo Ojulari Non-Executive Chairman: Ahmadu Musa Kida Chief Financial Officer: Adedapo Segun ( retained from the November 2023 appointment) Non-Executive Directors From Geopolitical Zones: Bello Rabiu (North West) Yusuf Usman (North East) Babs Omotowa (North Central) Austin Avuru (South-South) David Ige (South-West) Henry Obih (South-East) Government Representatives: Lydia Shehu Jafiya (Federal Ministry of Finance) Aminu Said Ahmed (Ministry of Petroleum Resources) Reason For the Shake-Up President Tinubu exercised his powers under Section 59, Subsection 2 of the Petroleum Industry Act (2021) to reconstitute the board. According to him, the reforms are needed for enhanced operational efficiency, the restoration of investor confidence, local content, economic growth, and the encouragement of gas commercialization and diversification. In the course of the administration’s reform of the energy sector, Tinubu charged the new board to undertake a strategic portfolio review of NNPC-operated and Joint Venture Assets with a view to aligning them with value maximization goals. Tinubu’s Vision for the Oil Sector Since coming into power in 2023, Tinubu’s administration has pushed for oil sector reforms aimed at wooing investment. NNPC last year lured in $17 billion in fresh investments. The government is now projecting this to reach $30 billion by 2027 and $60 billion by 2030. It also targets increasing the production of oil to 2 million barrels a day by 2027 and 3 million barrels a day by 2030. The production of gas is expected to rise to 8 billion cubic feet a day by 2027 and 10 billion cubic feet by 2030. In addition, the government hopes the new board will boost NNPC’s crude oil refining capacity to 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030. Profiles of Key Appointees Ahmadu Musa Kida (Board Chairman) Kida, a Borno State native, is a civil engineer, Ahmadu Bello University, Zaria. He then obtained a postgraduate diploma in petroleum engineering from the Institut Français du Pétrole (IFP), Paris. He began his career in the oil industry at Elf Petroleum Nigeria before moving to Total Exploration and Production in 1985. In 2015, he was made Deputy Managing Director of Deep Water Services of Total Nigeria. He was also an Independent Non-Executive Director at Pan Ocean-Newcross Group. Beyond the oil industry, Kida is a retired basketball player and former president of the Nigerian Basketball Federation (NBBF). Bashir Bayo Ojulari (Group CEO) Ojulari, from Kwara State, graduated with a degree in Mechanical Engineering from Ahmadu Bello University, Zaria. He started his working life as the first Nigerian process engineer at Elf Aquitaine. He later transferred to Shell Petroleum Development Company of Nigeria Ltd in 1991, where he worked in various roles in Europe and the Middle East as a petroleum process engineer, strategic planner, and asset manager. In 2015, he took up the position of Managing Director, Shell Nigeria Exploration and Production Company (SNEPCO). Before assuming his new position, he was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. His company just led a $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC). Ojulari is also a fellow of the Nigerian Society of Engineers and has actively engaged in the activities of the Society of Petroleum Engineers (SPE Nigeria Council). Award of Appreciation to Outgoing Board Members President Tinubu appreciated the outgoing board members for their service, particularly their efforts towards the rehabilitation of the Port Harcourt and Warri refineries, which resumed operation for petroleum production after years of inactivity. He wished them well for their future endeavors. 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The electoral Read more Olawale Moses OyewoleOlawale Moses Oyewole is an adept writer who stays on top of current events and curate informative and engaging articles for his readers. He is a digital strategist who help brands gain online visibility.