President Bola Tinubu has announced a major leadership overhaul at the Nigerian National Petroleum Company (NNPC) Limited, effective April 2, 2025.
As part of the restructuring, Mele Kyari has been removed as Group Chief Executive Officer (GCEO), along with NNPCL Board Chairman Pius Akinyelure. In their place, Tinubu has appointed Bashir Bayo Ojulari as the new Group CEO and Ahmadu Musa Kida as the non-executive chairman of a newly constituted 11-member board.
Presidential spokesperson Bayo Onanuga confirmed the changes in a statement released early Wednesday, noting that all board members appointed alongside Kyari and Akinyelure in November 2023 have also been relieved of their duties.
New NNPC Board Members
The new 11-member board includes:
- Bashir Bayo Ojulari – Group CEO
- Ahmadu Musa Kida – Non-Executive Chairman
- Adedapo Segun – Chief Financial Officer
- Bello Rabiu (North West) – Non-Executive Director
- Yusuf Usman (North East) – Non-Executive Director
- Babs Omotowa (North Central) – Non-Executive Director
- Austin Avuru (South-South) – Non-Executive Director
- David Ige (South-West) – Non-Executive Director
- Henry Obih (South-East) – Non-Executive Director
- Lydia Shehu Jafiya – Representative of the Ministry of Finance
- Aminu Said Ahmed – Representative of the Ministry of Petroleum Resources
Objectives of the Restructuring
Invoking his authority under Section 59(2) of the Petroleum Industry Act, 2021, President Tinubu emphasized that the leadership changes aim to:
- Enhance operational efficiency at NNPC
- Restore investor confidence
- Strengthen local content initiatives
- Drive economic growth
- Advance gas commercialisation and diversification
The President also directed the new board to conduct an immediate strategic review of NNPC’s Joint Venture and operated assets to ensure alignment with national value maximization goals.
Oil Sector Goals and Investment Plans
Since taking office, the Tinubu administration has implemented several oil sector reforms, attracting $17 billion in new investments in 2024. The government aims to increase this figure to $30 billion by 2027 and $60 billion by 2030.
Tinubu’s administration has set ambitious targets for energy production:
- Oil Production: 2 million barrels per day by 2027, rising to 3 million by 2030.
- Gas Production: 8 billion cubic feet per day by 2027, reaching 10 billion by 2030.
- Crude Refining Output: 200,000 barrels per day by 2027, expanding to 500,000 by 2030.
Profiles of New Leadership
Ahmadu Musa Kida (NNPC Board Chairman)
- Hails from Borno State
- Civil engineering graduate from Ahmadu Bello University, Zaria
- Holds a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrole, Paris
- Started his career at Elf Petroleum Nigeria and later joined Total Exploration and Production
- Former Deputy Managing Director of Deep Water Services at Total Nigeria
- Serves as an Independent Non-Executive Director at Pan Ocean-Newcross Group
- Former basketball player and President of the Nigerian Basketball Federation (NBBF)
Bashir Bayo Ojulari (NNPC Group CEO)
- Hails from Kwara State
- Mechanical engineering graduate from Ahmadu Bello University, Zaria
- Started his career at Elf Aquitaine as Nigeria’s first process engineer
- Joined Shell Petroleum Development Company in 1991 as an associate production technologist
- Worked in Europe and the Middle East in various oil and gas roles
- Former Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO)
- Led a consortium in acquiring Shell Petroleum Development Company (SPDC) for $2.4 billion
- Fellow of the Nigerian Society of Engineers and former trustee of the Society of Petroleum Engineers Nigeria Council
Appreciation for Outgoing Board
President Tinubu expressed gratitude to the outgoing board members for their contributions, particularly in the rehabilitation of the Port Harcourt and Warri refineries, which have resumed petroleum production after prolonged shutdowns. He wished them success in their future endeavors.
