President Bola Tinubu has announced a major restructuring of the Nigerian National Petroleum Company (NNPC) Limited, effective April 2, 2025.
As part of the shake-up, Tinubu removed Mele Kyari as Group CEO and Pius Akinyelure as Board Chairman, along with all other board members appointed in November 2023.
New Leadership at NNPC
The President has appointed: Bashir Bayo Ojulari – New Group CEO and Ahmadu Musa Kida – Non-Executive Board Chairman
The reconstituted 11-man board also includes:
1. Adedapo Segun – Chief Financial Officer (CFO)
2. Six non-executive directors, representing Nigeria’s geopolitical zones:
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Bello Rabiu (North-West)
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Yusuf Usman (North-East)
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Babs Omotowa (North-Central)
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Austin Avuru (South-South)
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David Ige (South-West)
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Henry Obih (South-East)
Lydia Shehu Jafiya – Representing the Ministry of Finance
Aminu Said Ahmed – Representing the Ministry of Petroleum Resources
Why the Shake-Up?
President Tinubu invoked Section 59(2) of the Petroleum Industry Act (2021), stating that the board’s restructuring aims to: Enhance operational efficiency, restore investor confidence, boost local content, Drive economic growth, Advance gas commercialization and diversification
Immediate Mandates for the New Board
The President directed the board to:
1. Conduct a strategic review of NNPC’s operations and joint venture assets.
2. Increase oil production to 2 million barrels/day by 2027 and 3 million by 2030.
3. Boost gas production to 8 billion cubic feet/day by 2027 and 10 billion by 2030.
4. Expand NNPC’s crude refining capacity to 200,000 barrels/day by 2027 and 500,000 by 2030.
Meet the New Leaders
Ahmadu Musa Kida (Board Chairman)
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Former Deputy Managing Director of Total Nigeria
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Holds a degree in Civil Engineering from Ahmadu Bello University (ABU), Zaria
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Former President of the Nigerian Basketball Federation (NBBF)
Bashir Bayo Ojulari (Group CEO)
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Former Executive VP & COO of Renaissance Africa Energy Company
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Led the $2.4 billion acquisition of Shell Petroleum Development Company (SPDC)
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Mechanical Engineering graduate from ABU, Zaria
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Former Managing Director of Shell Nigeria Exploration & Production Company (SNEPCO)
