Abuja, Nigeria – In a sweeping shake-up of Nigeria’s oil sector, President Bola Tinubu has dismissed the Nigerian National Petroleum Company (NNPC) board, including Group CEO Mele Kyari and Board Chairman Pius Akinyelure. Effective April 2, 2025, Bayo Ojulari, a former Shell Nigeria executive, has been appointed as the new Group CEO, while Ahmadu Musa Kida will replace Akinyelure as NNPC’s non-executive chairman.
The decision, announced by presidential spokesperson Bayo Onanuga, is aimed at boosting efficiency, restoring investor confidence, and ensuring NNPC operates as a commercially viable entity. Invoking his authority under Section 59(2) of the Petroleum Industry Act (PIA) 2021, Tinubu reconstituted the board to align the company with global best practices.
New Leadership at NNPC
Alongside Ojulari and Kida, Adedapo Segun has been appointed as the company’s Chief Financial Officer (CFO). Additionally, Tinubu has named six non-executive directors representing Nigeria’s geopolitical zones:Bello Rabiu (North-West)
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Yusuf Usman (North-East)
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Babs Omotowa (North-Central, former MD of NLNG)
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Austin Avuru (South-South)
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David Ige (South-West)
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Henry Obih (South-East)
Meanwhile, Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, and Aminu Said Ahmed of the Ministry of Petroleum Resources will represent their respective ministries on the board.
A Push for Transparency and Profitability
According to the presidency, the restructuring is designed to transform NNPC into a transparent, efficient, and profit-driven organization. The new leadership has been tasked with reviewing NNPC-operated and Joint Venture Assets to maximize value and streamline operations.
Mele Kyari, first appointed by former President Muhammadu Buhari and reappointed by Tinubu in 2023, had spearheaded key reforms in the petroleum sector. However, his tenure faced scrutiny amid rising fuel prices, subsidy removal debates, and oil theft concerns.
The new board is expected to hit the ground running, with immediate actions focused on strengthening operational efficiency and reinforcing Nigeria’s position in the global energy market.
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