Editor
President Bola Tinubu has removed Mele Kyari as the group chief executive officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited and dissolved its board. Tinubu also appointed Engineer Bashir Bayo Ojulari to replace Mele Kyari as the group chief executive officer (CEO).
The decision, effective April 2, 2025, was announced in a statement signed by Bayo Onanuga, special adviser to the president on information and strategy, early Wednesday.
Join our WhatsApp ChannelTinubu removed all other board members appointed with Akinyelure and Kyari in November 2023.
“The new 11-man board has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman,” Onanuga said.
Adedapo Segun, who replaced Umaru Isa Ajiya as the chief financial officer last November, has been appointed to the new board by President Tinubu.
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Six board members, non-executive directors, represent the country’s geopolitical zones. They are Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas( NLNG), who represents North Central.
President Tinubu appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.
Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
All the appointments are effective today, April 2.
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Tinubu, invoking the powers granted under Section 59, subsection 2 of the Petroleum Industry Act, 2021, emphasised that the board’s restructuring is crucial for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialisation and diversification.
The Presidentalso handed out an immediate action plan to the new board: to conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives.
“Since 2023, the Tinubu administration has implemented oil sector reforms to attract investment. Last year, NNPC reported $17 billion in new investments within the sector. The administration now envisions increasing the investment to $30 billion by 2027 and $60 billion by 2030,” Onanuga said.
Meanwhile, Lydia Shehu Jafiya, the permanent secretary of the federal ministry of finance, and Aminu Said Ahmed of the ministry of petroleum resources will represent their respective ministries on the new board.
