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By: Manoah kikekon
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| Mele Kiyari and Bayo Ojulari |
In a bold move to revitalize Nigeria’s oil sector, President Bola Tinubu has removed Mele Kyari as Group CEO of the Nigerian National Petroleum Company (NNPC) Limited and dissolved its entire board, effective April 2, 2025.
The announcement, made early Wednesday by presidential aide Bayo Onanuga, cited the need for "enhanced operational efficiency, restored investor confidence, and a more commercially driven NNPC."
Bayo Ojulari (ex-Shell executive) takes over as Group CEO, replacing Kyari. Ahmadu Musa Kida (former Total executive) appointed as Non-Executive Chairman, succeeding Pius Akinyelure. Adedapo Segun confirmed as Chief Financial Officer (CFO).
Six new non-executive directors appointed across Nigeria’s geopolitical zones, including industry veterans like Babs Omotowa (ex-NLNG MD) and Austin Avuru (Seplat co-founder).
Strategic Goals: $60B Investments & 3M Barrels Daily by 2030
President Tinubu’s "NNPC Transformation Plan" targets: $30B investments by 2027, $60B by 2030, 2M barrels/day crude production by 2027, 3M by 2030, 200K barrels/day refining capacity by 2027, 500K by 2030 and 8B cubic feet gas output by 2027, 10B by 2030.
Why the Shake-Up?
The move aligns with the Petroleum Industry Act (PIA) 2021, aiming to reposition NNPC as a transparent, profit-driven entity. The new board has been handed a strategic action plan, including a review of NNPC’s joint ventures to maximize value.
Meet the New Leaders
Ahmadu Kida (Chairman) – Ex-Total deputy MD with 30+ years in oil & gas.
Bayo Ojulari (CEO) – Former Shell Nigeria Exploration MD and energy strategist.
Tinubu’s Vision: "We are taking bold steps to transform NNPC into a globally competitive company that drives Nigeria’s energy security and economic growth."
The outgoing board was commended for reviving Port Harcourt and Warri refineries, enabling local fuel production after years of shutdowns.
What’s Next? Industry analysts expect faster reforms, increased private-sector partnerships, and a push for modular refineries under the new leadership.