NewStats: 3,263,755 , 8,181,286 topics. Date: Saturday, 07 June 2025 at 06:13 PM 593455

STATEHOUSE PRESS RELEASE

PRESIDENT TINUBU RECONSTITUTES NNPC LIMITED BOARD, APPOINTS NEW CHAIRMAN, GROUP CEO

President Bola Ahmed Tinubu has approved a sweeping reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing the chairman, Chief Pius Akinyelure and the group chief executive officer, Mallam Mele Kolo Kyari.

President Tinubu removed all other board appointed with Akinyelure and Kyari in November 2023.

The new 11-man board has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman.

Adedapo Segun, who replaced Umaru Isa Ajiya as the chief financial officer last November, has been appointed to the new board by President Tinubu.

Six board , non-executive directors, represent the country's geopolitical zones. They are Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas( NLNG), who represents North Central.

President Tinubu appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.

Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.

All the appointments are effective today, April 2.

President Tinubu, invoking the powers granted under Section 59, subsection 2 of the Petroleum Industry Act, 2021, emphasised that the board's restructuring is crucial for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialisation and diversification.

President Tinubu also handed out an immediate action plan to the new board: to conduct a strategic portfolio review of NNPC-operated and t Venture Assets to ensure alignment with value maximisation objectives.

Since 2023, the Tinubu istration has implemented oil sector reforms to attract investment. Last year, NNPC reported $17 billion in new investments within the sector. The istration now envisions increasing the investment to $30 billion by 2027 and $60 billion by 2030.

The Tinubu istration targets raising oil production to two million barrels daily by 2027 and three million daily by 2030. Concurrently, the government wants gas production jacked to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.

Furthermore, President Tinubu expects the new board to elevate NNPC's share of crude oil refining output to 200,000 barrels by 2027 and reach 500,000 by 2030.

The new board chairman, Ahmadu Musa Kida, is from Borno State. He is an alumnus of Ahmadu Bello University, Zaria, where he received a degree in civil engineering in 1984. He also obtained a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP) in Paris

He started his career in the oil industry at Elf Petroleum Nigeria and later ed Total Exploration and Production as a trainee engineer in 1985.

Musa became Total Nigeria's Deputy Managing Director of Deep Water Services in 2015. Last year, he became an Independent Non-Executive Director at Pan Ocean-Newcross Group.

Apart from his oil industry career, Ahmadu Musa Kida is a former basketballer and the president of the Nigerian Basketball Federation(NBBF) board.

Ojulari, the new NNPC Limited Group CEO, hails from Kwara State. Until his new appointment, He was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. His Renaissance recently led a consortium of indigenous energy firms in the landmark acquisition of the entire equity holding in the Shell Petroleum Development Company of Nigeria (SPDC), worth $2.4 billion.

Like Kida, Ojulari is also an alumnus of Ahmadu Bello University, Zaria. He graduated with a degree in Mechanical Engineering. He worked for Elf Aquitaine as the first Nigerian process engineer to begin a stellar career in the oil sector. From Elf, he ed Shell Petroleum Development Company of Nigeria Ltd in 1991 as an associate production technologist.

Apart from working in Nigeria, he worked in Europe and the Middle East in different capacities as a petroleum process and production engineer, strategic planner, field developer, and asset manager. In 2015, he became the managing director of Shell Nigeria Exploration and Production Company (SNEPCO).

During his career, he was chairman and member of the board of trustees of the Society of Petroleum Engineers (SPE Nigerian Council) and a fellow of the Nigerian Society of Engineers.

President Tinubu thanked the old board for their dedicated service to NNPC Limited, particularly their efforts in rehabilitating the old Port Harcourt and Warri refineries, which enabled them to resume petroleum product production after prolonged shutdowns. He wished them well in their future endeavours.

Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
https://x.com/aonanuga1956/status/1907252926558470545

https://www.thecable.ng/shake-up-at-nnpc-mele-kyari-out-bayo-ojulari-in-as-group-ceo/

This news has no source, thou this appointment has been taunted in public domain for months...with expectations from Ojulari and Kida as proposed men to reign in the affairs of NNPC

The choping continues

braveboi4life:
This news has no source, thou this appointment has been taunted in public domain for months...with expectations from Ojulari and Kida as proposed men to reign in the affairs of NNPC

The choping continues

Take a look at the quality of human beings appointed.

Good schools, sterling careers.

Sensible investment strategists.

Balanced appointments!

May they succeed.

PS: Austin Avuru, Babs Omotowa, Bello Rabiu sit or sat on the board of Seplat. The new MD is from Renaissance Energy. Henry Ikem Obih came from ExxonMobil and had served as ED in NNPC during Buhari's time. David Ige worked in NNPC. Yusuf Usman also had a stint in Shell and NNPC. Some of these guys graduated first class and had a strong mix of public sector and private sector experience. The appointments are spot on and well thought out. We'd assess their performace within the next two years, God willing.

Na midnight decision



They made sure to announce it after April 2nd midnight, so kyari wouldn't think it was an April Fools' Day prank.

It's surprising that Tinubu has allowed Mr. Kyari to continue in office until now.

Jagaban doings. 24/7 service.

But why North go commot and he go reappoint another Northerner to replace him. This is injustice against the South.

Bashir AbdulOjulari is a Northerner. Congratulations to him tho.

olatade:
Na midnight decision


It's surprising that Tinubu has allowed Mr. Kyari to continue in office until now.

Something I notice. There has been no leakage of communication on presidential statement for the past few months.

Nobody dey know when Jagaban wan make moves. River state of emergency and now this one. Everything happened discreetly.

olatade:
Na midnight decision



They made sure to announce it after April 2nd midnight, so kyari wouldn't think it was an April Fools' Day prank.

It's surprising that Tinubu has allowed Mr. Kyari to continue in office until now.

Sometimes, the media has the information but they are asked to stay put until the formal announcement is made. Some newspapers may have printed and started circulating; so the announcement needed to be made.

As for Mele Kyari, I heard rumours he had been given a deadline to get two refineries to work by December 2024 or get the boot. That may explain why he stayed long.

Finally, the president has got the mind to send the oil mafia Mallam Mele Kolo Kyari home. May sanity return to Nigeria's petroleum sector

Urchins oya bring your best praise singing lyrics

Tinubu is very consistent in his Yorubanization agenda. He never disappoint. I knew he would appoint an omoluabi as the Group CEO

ok

At last Mele Kyari was booted out las las

To avoid April fool, he discreetly fired Mele Kyari midnight April 2 and replacement is with immediate effect.

I thought this man would have been removed since. How he managed to hold the office till now baffles me.

Round peg in square hole! Very incompetent

https://www.thecable.ng/breaking-tinubu-sacks-mele-kyari-names-bayo-ojulari-as-nnpc-ceo/

New lobbying n new alliances to be made.

I know kyari will be replaced with a Yoruba even before opening the trend. Remove Kanuri replace with a Yoruba.

This VP is the most dormant VP in the history of VPs no one even hears anything from him. Even searching his name on Google won't bring any latest news from him.

This is long over due. This is a welcome development in the oil sector.

Long overdue!!!

Efcc please go after that guy.
Watch some northerners say tinubu is after them,😂😂😂😂

Abeg, that place is nobody's house. By right that executive position should be held by a southerner.

On this action alone I stand with tinubu

I never liked the Mele Kyari istration.
Though he did his best sha
Congratulations to the new set of trillionaires in Nigeria

EnglandAmaka:
I know kyari will be replaced with a Yoruba even before opening the trend. Remove Kanuri replace with a Yoruba.

This VP is the most dormant VP in the history of VPs no one even hears anything from him. Even searching his name on Google won't bring any latest news from him.

Bayo Ojulari is from Kwara State. They are in the NorthCentral. He is highly competent and was MD of SNEPCO.

As for the VP, historically, he cannot do more than what he is assigned. He is not in competition with his boss for visibility.

As Robert Greene said, never outshine the master. Natasha is doing it. She is winning. Time would tell if she was right. Las Las, na podcast she go end up doing because she is good at it.

Kudos Mr president but it is kinda long overdue. Kyari ought to have been fired simultaneously the day subsidy was removed

Will that reduce the price of fuel?

emkz:


Take a look at the quality of human beings appointed.

Good schools, sterling careers.

Sensible investment strategists.

Balanced appointments!

May they succeed.

Most of the failures are always good on paper until they get appointed. Pls someone should ask the president why more then 80% of the appointments for North Central goes to the minoriYorubas in Kogi and Kwara. Pls I have be shouting this, I want to know why!

emkz:


Bayo Ojulari is from Kwara State. They are in the NorthCentral. He is highly competent and was MD of SNEPCO.

As for the VP, historically, he cannot do more than what he is assigned. He is not in competition with his boss for visibility.

As Robert Greene said, never outshine the master. Natasha is doing it. She is winning. Time would tell if she was right. Las Las, na podcast she go end up doing because she is good at it.

Go and read the history of Tinubu 's dupities right from when he was governor, you will understand what is happening.

LegendHero:
Jagaban doings. 24/7 service.

But why North go commot and he go reappoint another Northerner to replace him. This is injustice against the South.

Bashir AbdulOjulari is a Northerner. Congratulations to him tho.

Tinubu thinks we are fools! North my foot! He removed a kanuri and replaced with a Yoruba. He has been giving the slots meant for North Central to the Yorubas in Kogi and Kwara and arguing that they are Northerners

Tinubu, the man!

Round pegs in round roles.

Base on the current replacement

Over to you our brothers from south east

Is Kwara in south west?

Niger delta oil for everybody but non niger delta are the managers because of selfishness.

Long overdue

Soldier come soldier go baracks remain.
I hope we see some positive changes.

Mele Kyari was due for retirement since last year. He was only kept on board to stabilize the industry. He has served well and it’s time to take a bow. We thank him and all of the outgoing board for their service to the country.

Congratulations to all those newly appointed to the board and management of NNPC. Hopefully, they would see this as a call to service and not for personal aggrandizement. Nigerians want to see more transparency and ability from the new NNPC management.

Ojulari is very much qualified for the position, He is probably going to be the de facto minister of petroleum.