In a major shake-up of Nigeria’s oil industry, President Bola Ahmed Tinubu has dismissed the leadership of the Nigerian National Petroleum Company Limited (NNPCL), removing Mele Kyari as Group Chief Executive Officer (GCEO) and dissolving the board.
Stepping into the role of GCEO is Engineer Bashir Bayo Ojulari, a seasoned professional with over three decades of experience in the oil and gas sector.
His appointment signals a strategic shift towards stronger technical expertise at the helm of NNPCL.
Accompanying this leadership overhaul, Ahmadu Musa Kida has been named non-executive chairman, replacing Pius Akinyelure. Kida’s vast experience in the industry, including leadership roles at TotalEnergies, aligns with Tinubu’s vision for a more commercially viable and efficient NNPCL.
The restructuring extends beyond top executives. The new 11-member board includes representatives from Nigeria’s geopolitical zones, with Bello Rabiu for
North-West, Yusuf Usman for North-East, Babs Omotowa (former NLNG MD) forNorth-Central, Austin Avuru for South-South, David Ige for
South-West and Henry Obih for South-East
Adedapo Segun retains his role as Chief Financial Officer (CFO), while representatives from the Finance and Petroleum Ministries ensure government oversight.
President Tinubu’s move is seen as a bid to restore investor confidence in Nigeria’s oil sector.
His administration has emphasized the need for a more transparent and commercially-driven NNPCL, capable of boosting crude production and reducing reliance on imported fuel.
While industry stakeholders welcome the restructuring, analysts say its success will depend on the new leadership’s ability to navigate longstanding challenges, from oil theft to refining inefficiencies.
All eyes are now on Ojulari and his team as they embark on this crucial transformation.