President Tinubu Overhauls NNPC Leadership: A New Era For Nigeria's Oil Sector

Breaking Changes at NNPC: A New Chapter Begins

Listen up, friends. President Bola Tinubu has just shaken things up in the Nigerian National Petroleum Company (NNPC) Limited. As of April 2, 2025, Mele Kyari is no longer the Group Chief Executive Officer (GCEO), and the entire board has been dissolved. This bold move is all about boosting the operational efficiency of this massive oil company and regaining the trust of investors. It’s a game-changer, folks, and it’s happening right now.

Let me break it down for you. In a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the President used his authority under Section 59(2) of the Petroleum Industry Act (PIA) 2021 to make these sweeping changes. The goal? To transform NNPC into a more commercially viable and efficient powerhouse.

Replacing Mele Kyari is Bayo Ojulari, a seasoned professional with deep roots in the oil and gas industry. Ojulari’s appointment signals a fresh start for NNPC, and he’s ready to take the reins. Joining him is Ahmadu Musa Kida, the newly appointed non-executive chairman, who steps in to replace Pius Akinyelure. Kida, with decades of experience, is expected to bring valuable leadership to the table as NNPC continues its transformation journey.

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Revamping the Leadership Structure

The reshuffle doesn’t stop there. Adedapo Segun has been tapped as the new Chief Financial Officer (CFO), adding another layer of expertise to the NNPC leadership team. But wait, there’s more. Six non-executive directors representing each of Nigeria’s geopolitical zones have been appointed to the board. Let’s meet them: Bello Rabiu (North-West), Yusuf Usman (North-East), Babs Omotowa (North-Central), Austin Avuru (South-South), David Ige (South-West), and Henry Obih (South-East).

Completing the team are Lydia Shehu Jafiya, the Permanent Secretary of the Federal Ministry of Finance, and Aminu Said Ahmed from the Ministry of Petroleum Resources. These two will represent their respective ministries on the new board. It’s a diverse and experienced group ready to tackle the challenges ahead.

A Strategic Action Plan for Growth

President Tinubu has outlined a clear action plan for the new NNPC leadership. First on the agenda is a thorough review of the company’s operated and Joint Venture assets. The aim is to align these assets with value maximization objectives, ensuring NNPC operates at its full potential.

The Tinubu administration is laser-focused on reforming the oil sector. The goal is to boost domestic refining capacity and secure the nation’s energy future. Since 2023, the administration has attracted an impressive $17 billion in new investments to the oil sector. The plan is to increase this to $30 billion by 2027 and a whopping $60 billion by 2030. It’s a bold vision, and the team at NNPC is ready to deliver.

But that’s not all. The administration has set its sights on raising Nigeria’s crude oil production to two million barrels per day by 2027, with a further increase to three million barrels per day by 2030. Gas production is also a priority, targeting 8 billion cubic feet per day by 2027 and a rise to 10 billion cubic feet by 2030. These are ambitious goals, but with the right leadership and strategy, they’re within reach.

To support these targets, NNPC is expected to increase its share of crude oil refining output to 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030. The push for domestic refining is critical to reducing Nigeria’s dependence on fuel imports and enhancing the nation’s energy security.

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Meet the New Leadership Team

Ahmadu Musa Kida, the new NNPC chairman, brings over three decades of experience to the table. A graduate of Ahmadu Bello University, Zaria, with a degree in civil engineering, Kida furthered his education with a postgraduate diploma in petroleum engineering from the prestigious Institut Francaise du Petrol in Paris. His career includes significant roles at major energy firms, including serving as deputy managing director of Total Exploration and Production. He’s the perfect choice to lead NNPC into its next chapter.

Bayo Ojulari, the new GCEO, is a powerhouse in the oil and gas industry. With extensive experience in petroleum process engineering, strategic planning, and field development, Ojulari has the skills and knowledge needed to drive NNPC forward. Originally from Kwara State, Ojulari previously served as managing director of Shell Nigeria Exploration and Production Company (SNEPCO). His appointment is a testament to his expertise and commitment to excellence.

In a heartfelt message to the outgoing board members, President Tinubu expressed his gratitude for their dedication. He highlighted their efforts in rehabilitating the Port Harcourt and Warri refineries, which have now resumed petroleum product production after long periods of inactivity. The President wished them well in their future endeavors, encouraging them to continue contributing to the nation’s journey toward energy independence.

A New Dawn for Nigeria’s Energy Sector

This overhaul of NNPC’s leadership marks the beginning of a new era for Nigeria’s oil and gas industry. With a clear vision, a strategic plan, and a team of experts at the helm, the possibilities are endless. As President Tinubu and his administration work tirelessly to secure Nigeria’s energy future, the nation stands on the brink of a brighter tomorrow. Let’s watch as NNPC rises to the challenge and delivers results that will benefit generations to come.