President Bola Tinubu Reshuffles NNPC Leadership, Sacks Mele Kyari and Pius Akinyelure

By DAYO ADESULU

President Bola Tinubu Restructures NNPC, Appoints New Leadership

In a major shake-up of the Nigerian National Petroleum Company (NNPC) Limited, President Bola Tinubu has dismissed Group Chief Executive Officer (GCEO) Mallam Mele Kolo Kyari and Board Chairman Chief Pius Akinyelure. The president also relieved all other board members appointed alongside them in November 2023.

This announcement came through a statement released in the early hours of Wednesday by presidential spokesman Bayo Onanuga. The restructuring, effective immediately, aligns with the administration’s broader reforms in the oil and gas sector.

Bashir Ojulari and Ahmadu Musa Kida Head New NNPC Leadership

According to the statement, the newly constituted 11-member board will be led by Engineer Bashir Bayo Ojulari as the new Group CEO, while Ahmadu Musa Kida will serve as the non-executive chairman.

President Bola Tinubu also appointed Adedapo Segun, who replaced Umaru Isa Ajiya as the Chief Financial Officer in November 2023, as a key member of the new board.

The newly appointed non-executive directors representing Nigeria’s geopolitical zones are:

• North West – Bello Rabiu
• North East – Yusuf Usman
• North Central – Babs Omotowa (former MD of NLNG)
• South South – Austin Avuru
• South West – David Ige
• South East – Henry Obih

Additionally, Mrs. Lydia Shehu Jafiya, the Permanent Secretary of the Federal Ministry of Finance, will represent the ministry on the board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.

• NNPC Gets New Leadership
• https://www.thecheernews.com/dangote-refinery-restarts-petrol-loading-for-oil-marketers/

President Bola Tinubu’s Vision for NNPC and Nigeria’s Oil Sector

The restructuring of NNPC is part of President Bola Tinubu’s broader agenda to enhance efficiency, attract investment, and improve Nigeria’s oil and gas production. According to the statement:

“President Bola Tinubu, invoking the powers under Section 59, Subsection 2 of the Petroleum Industry Act, 2021, emphasized that the restructuring is crucial for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialization and diversification.”

The President Bola Tinubu administration aims to ramp up investments in the oil sector from $17 billion (reported in 2023) to $30 billion by 2027 and $60 billion by 2030.

Other key targets include:

• Increasing oil production to 2 million barrels daily by 2027 and 3 million barrels by 2030
• Raising gas production to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030
• Boosting NNPC’s share of crude refining output to 200,000 barrels daily by 2027 and 500,000 barrels daily by 2030

New NNPC Leadership: Profiles of Ojulari and Kida

Ahmadu Musa Kida – NNPC Board Chairman

Ahmadu Musa Kida, from Borno State, holds a civil engineering degree from Ahmadu Bello University, Zaria, and a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP), Paris.

His career highlights include:

• Starting at Elf Petroleum Nigeria
• Joining Total Exploration and Production as a trainee engineer in 1985
• Serving as Deputy Managing Director of Deep Water Services, Total Nigeria, in 2015
• Becoming an Independent Non-Executive Director at Pan Ocean-Newcross Group in 2023

Apart from his oil industry experience, Kida is a former basketball player and has served as president of the Nigerian Basketball Federation (NBBF) board.

Bashir Bayo Ojulari – NNPC Group CEO

Bashir Ojulari, from Kwara State, was previously Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. His firm led the $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC).

His career trajectory includes:

• A degree in mechanical engineering from Ahmadu Bello University, Zaria
• Early career roles at Elf Aquitaine and Shell Petroleum Development Company of Nigeria (SPDC)
• Working in Europe and the Middle East as a petroleum process and production engineer, field developer, and asset manager
• Serving as MD of Shell Nigeria Exploration and Production Company (SNEPCO) in 2015

Ojulari has also held leadership roles in industry bodies, including the Society of Petroleum Engineers (SPE Nigerian Council) and the Nigerian Society of Engineers.

NNPC Restructuring: Strategic Review and Future Plans

President Bola Tinubu has mandated the new NNPC board to conduct a strategic portfolio review of NNPC-operated and joint venture assets to ensure alignment with value maximization objectives.

The administration remains committed to ongoing oil sector reforms, focusing on:

• Strengthening Nigeria’s energy security
• Expanding foreign direct investment in the oil and gas industry
• Improving refinery output and reducing dependency on fuel imports

Conclusion

President Bola Tinubu’s decision to restructure the NNPC board marks another significant step in his administration’s drive for energy sector reform. While thanking the outgoing board members for their service—particularly in rehabilitating the Port Harcourt and Warri refineries—he has placed high expectations on the new leadership to drive innovation, investment, and operational efficiency.

With the ambitious targets set for oil production, gas commercialization, and refining capacity, the coming years will be crucial in determining the success of these reforms.

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