President Bola Tinubu has announced major leadership changes at the Nigerian National Petroleum Company (NNPC) Limited, including the dismissal of Mele Kyari as Group Chief Executive Officer (GCEO) and the dissolution of the company’s board.
This decision, effective April 2, 2025, is part of the administration’s efforts to improve NNPC’s efficiency and regain investor confidence. According to a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Tinubu exercised his authority under Section 59(2) of the Petroleum Industry Act (PIA) 2021 to implement these changes, aiming to make the company more commercially viable and effective.
To lead the NNPC in this new phase, Tinubu has appointed Bayo Ojulari, an experienced oil and gas professional, as the new GCEO. He takes over from Mele Kyari, whose tenure faced ongoing challenges in the country’s oil sector.
Additionally, Ahmadu Musa Kida has been named the new non-executive chairman, replacing Pius Akinyelure.
Kida, who has decades of industry experience, is expected to provide strong leadership as the NNPC undergoes transformation. Another key appointment is Adedapo Segun, who will serve as the new Chief Financial Officer (CFO), bringing further restructuring to the company’s leadership.
As part of the overhaul, six non-executive directors, representing each of Nigeria’s geopolitical zones, have been appointed to the NNPC board. They are Bello Rabiu (North-West), Yusuf Usman (North-East), and Babs Omotowa (North-Central), while the southern representation includes Austin Avuru (South-South), David Ige (South-West), and Henry Obih (South-East).
Additionally, the Permanent Secretary of the Federal Ministry of Finance, Lydia Shehu Jafiya, and Aminu Said Ahmed from the Ministry of Petroleum Resources will serve as representatives from their respective ministries on the board.
President Tinubu has outlined a strategic plan for the new leadership, including a review of NNPC’s operations and Joint Venture assets to maximize value. His administration is pushing for significant reforms in the oil sector, focusing on increasing domestic refining capacity and ensuring Nigeria’s energy security.
Since 2023, the administration has attracted $17 billion in new investments in the oil sector, with plans to raise this to $30 billion by 2027 and $60 billion by 2030. The government also aims to boost crude oil production to two million barrels per day by 2027 and three million barrels per day by 2030. Additionally, gas production is targeted to reach eight billion cubic feet per day by 2027 and 10 billion cubic feet per day by 2030.
In line with these objectives, Tinubu expects NNPC to increase its refining capacity to 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030. Enhancing domestic refining is a key priority to reduce Nigeria’s dependence on fuel imports and strengthen the country’s energy security.
New NNPC Leadership Brings Expertise in Oil and Gas
Ahmadu Musa Kida, the newly appointed NNPC chairman, has over 30 years of experience in the oil and gas industry. He studied civil engineering at Ahmadu Bello University, Zaria, and later earned a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol in Paris. Kida has held senior roles in major energy companies, including serving as deputy managing director at Total Exploration and Production.
Bayo Ojulari, the new GCEO, has a strong background in petroleum process engineering, strategic planning, and field development. He previously served as the managing director of Shell Nigeria Exploration and Production Company (SNEPCO) before assuming his new role at NNPC.
In his message to the outgoing board members, President Tinubu expressed appreciation for their service, particularly in reviving the Port Harcourt and Warri refineries, which have resumed production after long periods of inactivity. He wished them success in their future endeavors and reiterated his commitment to achieving greater self-sufficiency in Nigeria’s energy production.
