The president of Nigeria National Petroleum Corporation (NNPC) Co., Ltd. (NNPC) Co., Ltd. announced a total change, including the dismissal of Mele Kyari as the CEO of the Group (GCEO) and the dissolution of the board.
The decision, which came into effect on April 2, 2025, is part of the government’s strategy to improve the efficiency of oil giants’ operations and restore investor confidence.
Statement on information and strategies signed by the Special Adviser to the President, Its Innuanugaconfirming that Tinubu invoked his authority under Section 59(2) of the Petroleum Industry Act (PIA) 2021 for leadership overhauls aimed at making NNPC more commercially viable and efficient.
To strengthen the company’s leadership, experienced oil and gas expert Bayo Ojulari has been appointed as the new GCE of NNPC.
He replaced Mele Kyari, whose tenure has been challenged by the country’s oil sector continues to face. In addition, Ahmadu Musa Kida was appointed as the new non-executive chairman to take over as Pius Akinyelure.
Kida has decades of experience in the industry and is expected to provide valuable leadership as NNPC continues to transform.
The president also appointed Adedapo Segun as the company’s new chief financial officer (CFO), another major change in the company’s leadership structure.
As part of the reorganization, six non-executive directors appointed to represent each geopolitical zone in Nigeria have been appointed to the NNPC Board of Directors.
These directors include Bello Rabiu (Northwest), Yusuf Usman (Northeast) and Babs Omotowa (North-central). From the south, Austin Avuru (South South), David Ige (South West) and Henry Obih (South East) completed the regional representatives.
In addition, Lydia Shehu Jafiya, permanent secretary of the Federal Finance Ministry, and Aminu said that Ahmed of the Ministry of Petroleum Resources will represent his ministries on the new board.
The president outlines the strategic action plan for the new NNPC leadership, which includes a review of company operations and joint venture assets to meet value maximization goals.
Tinubu’s government focuses on major reforms in the oil sector, aiming to improve domestic refining capacity and ensure the country’s energy security.
Since 2023, the Tinubu government has attracted $17 billion in new investments to the oil sector and plans to increase it to $30 billion by 2027 and $60 billion by 2030.
The president also stressed that Nigeria’s crude oil production will increase to 2 million barrels per day by 2027 and further increase to 3 million barrels per day by 2030.
Additionally, by 2027, the government will produce 8 billion cubic feet per day, and by 2030, its goal is to further rise to 10 billion cubic feet.
Based on these ambitious goals, President Tinubu expects NNPC to increase its share of crude oil refining production to 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030.
The push for domestic refining is crucial to reduce Nigeria’s dependence on fuel imports and improve the country’s energy security.
Introducing new leadership: Oil and gas expertise
Ahmadu Musa Kida, the new NNPC chairman, brings over thirty years of experience to the oil and gas sector. Kida graduated from Ahmadu Bello University in Zaria, earned a degree in civil engineering and received a postgraduate degree in petroleum engineering from the School of Engineering of the Francis Francis Du in Paris.
Kida holds important positions in large energy companies, including as deputy managing director of comprehensive exploration and production.
New GCE Bayo Ojulari has extensive experience in petroleum engineering, strategic planning and on-site development.
Ojulari from Kwara State University served as managing director of Shell Nigeria Exploration and Production Company (Snepco) before his latest appointment.
In a message to the outgoing board members, President Tinob expressed his gratitude for their dedicated service, especially their efforts to repair the Port Harcourt and Warri refineries that have now resumed production of oil products after long-term inactivity.
The President hopes that they will benefit in their future efforts, stressing the importance of continuing the nation’s journey of more self-sufficiency in energy production.
