Tinubu Replaces Kyari With Ojulari As NNPCL Boss
President Bola Tinubu, has appointed a new Group Chief Executive Officer, CEO, for the Nigerian National Petroleum Company Limited, NNPCL. He is Bashir Ojulari, whose appointment takes effect from April 2, 2025.
President Bola Tinubu, has appointed a new Group Chief Executive Officer, CEO, for the Nigerian National Petroleum Company Limited, NNPCL. He is Bashir Ojulari, whose appointment takes effect from April 2, 2025.
Ogulari replaced Mele Kyari, who had been on the seat for some years now.
Tinubu also constituted a new board for the NNPCL, after removing the Chairman of the board, Pius Akinyelure.
Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, spoke in a statement signed in the early hours of Wednesday titled, "President Tinubu reconstitutes NNPC limited board, appoints new Chairman, Group CEO."
His words, "President Tinubu 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.”
Adedapo Segun, who replaced Umaru Ajiya as the chief financial officer last November, has been appointed to the new board, even as the six board members including the non-executive directors, represent the country’s geopolitical zones.
Those appointed are Bello Rabiu representing the North West, Yusuf Usman representing the North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas, who represents North Central.
Others include 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 Ahmed will represent the Ministry of Petroleum Resources,” Onanuga added.
President 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.
He further 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...
“The administration now envisions increasing the investment to $30bn by 2027 and $60bn by 2030.
“The Tinubu administration targets raising oil production to two million barrels daily by 2027 and three million daily by 2030.
“Concurrently, the government wants gas production jacked to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030,” he noted.
The new board chairman, Ahmadu Kida, who hails from Borno State, is an alumnus of Ahmadu Bello University, Zaria, where he received a degree in civil engineering in 1984.
“The new 11-man board has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman.”
Adedapo Segun, who replaced Umaru Ajiya as the chief financial officer last November, has been appointed to the new board, even as the six board members including the non-executive directors, represent the country’s geopolitical zones.
Those appointed are Bello Rabiu representing the North West, Yusuf Usman representing the North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas, who represents North Central.
Others include 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 Ahmed will represent the Ministry of Petroleum Resources,” Onanuga added.
President 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.
He further 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...
“The administration now envisions increasing the investment to $30bn by 2027 and $60bn by 2030.
“The Tinubu administration targets raising oil production to two million barrels daily by 2027 and three million daily by 2030.
“Concurrently, the government wants gas production jacked to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030,” he noted.
The new board chairman, Ahmadu Kida, who hails from Borno State, is an alumnus of Ahmadu Bello University, Zaria, where he received a degree in civil engineering in 1984.
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