In a sweeping overhaul of the Nigerian National Petroleum Company Limited (NNPCL), President Bola Ahmed Tinubu has dismissed the Group Chief Executive Officer (GCEO), Mele Kyari, and appointed Engr. Bashir Bayo Ojulari as his replacement. Additionally, Ahmadu Musa Kida has been named as the new non-executive chairman of the corporation.
The President’s decisive action extends beyond the top leadership, as he has also relieved all board members appointed alongside Akinyelure and Kyari in November 2023 of their duties. This reshuffle is part of an ongoing strategy to reposition the nation’s oil and gas sector for enhanced efficiency and economic growth.
Amid these changes, Adedapo Segun, who took over as Chief Financial Officer (CFO) from Umaru Isa Ajiya in November 2023, has been retained as a member of the newly constituted board. The appointment underscores the administration’s commitment to continuity and expertise within NNPCL’s financial leadership.
The restructured board now includes six non-executive directors representing Nigeria’s geopolitical zones, each bringing vast experience in the energy sector:
- Bello Rabiu (North West)
- Yusuf Usman (North East)
- Babs Omotowa (North Central) – Former Managing Director of Nigerian Liquified Natural Gas (NLNG)
- Austin Avuru (South-South)
- David Ige (South West)
- Henry Obih (South East)
Furthermore, key governmental representatives have been appointed to the board to ensure strategic alignment with national policies. Mrs. Lydia Shehu Jafiya, the Permanent Secretary of the Federal Ministry of Finance, will represent her ministry, while Aminu Said Ahmed will act as the representative of the Ministry of Petroleum Resources.
President Tinubu’s decision to overhaul the leadership of NNPCL signals a renewed drive toward restructuring Nigeria’s petroleum industry. The administration aims to enhance transparency, operational efficiency, and global competitiveness within the sector, reinforcing the company’s pivotal role in national economic development.
The new leadership team is expected to navigate the complexities of Nigeria’s energy landscape, implement strategic reforms, and drive sustainable growth in the nation’s oil and gas sector. Industry stakeholders and market analysts will closely monitor the impact of these changes on the performance of NNPCL and the broader petroleum industry.
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