JUST IN: Tinubu removes Mele Kyari as NNPCL boss, names replacement
President Bola Tinubu has removed Mele Kyari as the Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Corporation (NNPC) Limited and dissolved its board.
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.
In justifying the move, Tinubu emphasized the need for “enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPC.”
Using his powers under Section 59(2) of the Petroleum Industry Act (PIA) 2021, the president initiated the sweeping restructuring.
As part of the overhaul, Bayo Ojulari has been appointed as the new Group CEO, succeeding Mele Kyari. Additionally, Ahmadu Musa Kida has been appointed the non-executive chairman of NNPC, replacing Pius Akinyelure.
Adedapo Segun has also been confirmed as the company’s new Chief Financial Officer (CFO).
In accordance with the PIA, the president also named six non-executive directors, each representing one of Nigeria’s geopolitical zones. These include:
Bello Rabiu for the North-West
Yusuf Usman for the North-East
Babs Omotowa, former MD of Nigerian Liquefied Natural Gas (NLNG), for the North-Central
Austin Avuru for the South-South
David Ige for the South-West
Henry Obih for the South-East
Lydia Shehu Jafiya, the Permanent Secretary of the Federal Ministry of Finance, and Aminu Said Ahmed from the Ministry of Petroleum Resources will also represent their respective ministries on the new board.
The statement also clarified that the restructuring is aimed at repositioning NNPC Limited to enhance productivity and efficiency in line with global best practices. “We are taking bold steps to transform the company into a more commercially-driven and transparent entity,” the statement read.
The new board has been tasked with implementing a strategic action plan, which includes reviewing NNPC-operated and joint venture assets to align them with value maximization goals.
Since 2023, President Tinubu’s administration has attracted $17 billion in new investments in the oil sector, with a goal of $30 billion by 2027 and $60 billion by 2030. The government also aims to increase crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030. Additionally, the target for gas production is 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.
The president also expects the new leadership to boost NNPC’s refining capacity, with plans to raise crude oil refining output to 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030. This aligns with the administration’s focus on strengthening domestic refining capacity to reduce reliance on fuel imports and enhance Nigeria’s energy security.
The New NNPC Leadership
Ahmadu Musa Kida, the new NNPC chairman, brings over 30 years of experience in the oil and gas industry. He is a graduate of Ahmadu Bello University, Zaria, with a degree in civil engineering, and later earned a postgraduate diploma in petroleum engineering from the Institut Français du Pétrole (IFP) in Paris. Kida’s career includes roles at Elf Petroleum Nigeria and Total Exploration and Production, where he became deputy managing director of Deep Water Services in 2015. He most recently served as an independent non-executive director at Pan Ocean-Newcross Group.
Bayo Ojulari, the new Group CEO, is an indigene of Kwara State and also holds a degree in mechanical engineering from Ahmadu Bello University. Ojulari began his career at Elf Aquitaine before joining Shell Petroleum Development Company in 1991. His career spans petroleum process engineering, strategic planning, and field development, with experience in Europe and the Middle East. In 2015, he became the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO). Most recently, Ojulari was executive vice president and chief operating officer at Renaissance Africa Energy Company.
President Tinubu expressed his gratitude to the outgoing board members for their dedicated service, especially for their role in the rehabilitation of the Port Harcourt and Warri refineries, which resumed production of petroleum products after prolonged shutdowns. The president wished them well in their future endeavors.
