TINUBU RESHUFFLES NNPC LEADERSHIP, APPOINTS BAYO OJULARI AS GCEO 

President Bola Tinubu has removed Mele Kyari as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (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.

Citing the need for “enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPC,” Tinubu exercised his authority under Section 59(2) of the Petroleum Industry Act (PIA) 2021 to implement the sweeping reconstitution.

New Leadership at NNPC

As part of the overhaul, Bayo Ojulari has been appointed as the new Group CEO, replacing Kyari. Ahmadu Musa Kida takes over as NNPC’s Non-Executive Chairman, succeeding Pius Akinyelure. Additionally, Adedapo Segun has been confirmed as the company’s Chief Financial Officer (CFO).

In accordance with the PIA, the president also appointed six non-executive directors, one from each geopolitical zone:

• North-West: Bello Rabiu
• North-East: Yusuf Usman
• North-Central: Babs Omotowa (former Managing Director, Nigerian Liquefied Natural Gas – NLNG)
• South-South: Austin Avuru
• South-West: David Ige
• South-East: Henry Obih

Additionally, Lydia Shehu Jafiya (Permanent Secretary, Federal Ministry of Finance) and Aminu Said Ahmed (Ministry of Petroleum Resources) will represent their respective ministries on the new board.

Strategic Vision and Industry Reforms

According to the statement, the restructuring is aimed at repositioning NNPC Limited for greater productivity and efficiency in line with global best practices. Tinubu emphasized his administration’s commitment to transforming the company into a more commercially driven and transparent entity.

The new board has been tasked with a strategic action plan, including a “review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximization objectives.”

Since assuming office in 2023, Tinubu’s administration has attracted $17 billion in new investments in the oil and gas sector and is targeting $30 billion by 2027 and $60 billion by 2030. The government also aims to:

• Increase crude oil production to 2 million barrels daily by 2027 and 3 million barrels by 2030.
• Boost gas production to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.
• Expand NNPC’s share of crude oil refining output to 200,000 barrels daily by 2027 and 500,000 barrels by 2030.

Enhancing domestic refining capacity remains a top priority to reduce fuel import dependency and strengthen Nigeria’s energy security.

Profiles of Key Appointees

Ahmadu Musa Kida – Chairman, NNPC Limited

Kida, a seasoned oil and gas executive, brings over 30 years of industry experience. A graduate of Ahmadu Bello University, Zaria, with a degree in Civil Engineering, he later obtained a postgraduate diploma in Petroleum Engineering from the Institut Francaise du Petrol (IFP) in Paris.

He started his career at Elf Petroleum Nigeria before transitioning to Total Exploration and Production, where he rose to 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 – Group Chief Executive Officer (GCEO), NNPC Limited

Ojulari, an indigene of Kwara State, studied Mechanical Engineering at Ahmadu Bello University. He began his career at Elf Aquitaine before joining Shell Petroleum Development Company in 1991 as an associate production technologist.

His expertise spans petroleum process engineering, strategic planning, and field development across Europe and the Middle East. In 2015, he was appointed Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO). Until his latest appointment, he served as Executive Vice President and Chief Operating Officer at Renaissance Africa Energy Company, leading a consortium that recently acquired Shell Petroleum Development Company of Nigeria (SPDC) for $2.4 billion.

Acknowledgment of Former Board Members

President Tinubu expressed gratitude to the outgoing board members for their dedicated service, particularly their efforts in rehabilitating the old Port Harcourt and Warri refineries, which resumed petroleum production after prolonged shutdowns.

“Their contributions to the sector’s growth will not be forgotten. We wish them well in their future endeavors,” the statement concluded.

The newly appointed board is expected to hit the ground running as Nigeria continues its drive towards energy transformation and economic growth.