Tinubu Overhauls NNPC Leadership: Ojulari Takes Helm as CEO, Kida Named Chairman

Tinubu Overhauls NNPC Leadership: Ojulari Takes Helm as CEO, Kida Named Chairman....KINDLY READ THE FULL STORY HERE▶

Abuja, April 2, 2025 — President Bola Ahmed Tinubu has announced a major shakeup at the Nigerian National Petroleum Company (NNPC) Limited, dissolving the current board and appointing a new leadership team as part of ongoing reforms in the oil and gas sector.

Chief Pius Akinyelure and Mallam Mele Kyari have been removed as board chairman and group chief executive officer, respectively, alongside all board members appointed in November 2023. The new 11-member board takes immediate effect, with Engineer Bashir Bayo Ojulari named as the new Group CEO and Ahmadu Musa Kida as the non-executive chairman.

The reconstituted board includes Adedapo Segun, who was appointed as chief financial officer in November 2023, now confirmed as a board member. Other appointees, representing Nigeria’s six geopolitical zones as non-executive directors, include Bello Rabiu (North West), Yusuf Usman (North East), and Babs Omotowa (North Central). The South is represented by Austin Avuru (South-South), David Ige (South West), and Henry Obih (South East).

Mrs. Lydia Shehu Jafiya, Permanent Secretary, Federal Ministry of Finance, and Aminu Said Ahmed, from the Ministry of Petroleum Resources, will serve as ministry representatives on the board.

The President made the appointments under the authority of Section 59(2) of the Petroleum Industry Act (PIA) 2021, citing the need to improve operational efficiency, rebuild investor confidence, deepen local content, and accelerate gas commercialization and economic growth.

As part of its immediate mandate, the new board is expected to conduct a strategic review of NNPC’s joint venture and operated assets to align with value optimization goals.

The reconstitution comes amid Tinubu’s broader oil sector reforms, which have already attracted $17 billion in new investments. The administration now aims to grow that figure to $30 billion by 2027 and $60 billion by 2030, while also targeting increased oil and gas production.

By 2027, the government plans to raise crude output to 2 million barrels per day and expand gas production to 8 billion cubic feet daily. The long-term goal is to hit 3 million barrels of oil and 10 billion cubic feet of gas per day by 2030. In refining, NNPC’s output is expected to climb to 200,000 barrels per day by 2027 and 500,000 by 2030.

New Leadership Profiles

Ahmadu Musa Kida, the new board chairman, hails from Borno State and holds a degree in civil engineering from Ahmadu Bello University, Zaria, as well as a postgraduate diploma in petroleum engineering from the Institut Français du Pétrole, Paris. A seasoned oil industry executive, Kida previously served as Deputy Managing Director of Deep Water Services at Total Nigeria and currently sits as an Independent Director at Pan Ocean-Newcross Group. He is also a former national basketball player and president of the Nigerian Basketball Federation (NBBF).

Engineer Bayo Ojulari, the newly appointed CEO, is from Kwara State. He most recently served as Executive Vice President and Chief Operating Officer at Renaissance Africa Energy Company, which led a $2.4 billion acquisition of Shell’s onshore assets in Nigeria. A mechanical engineering graduate of Ahmadu Bello University, Ojulari has held leadership positions at Shell, including Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO). He is a fellow of the Nigerian Society of Engineers and has served on the board of the Society of Petroleum Engineers (SPE).

In a statement, President Tinubu thanked the outgoing board for their service, particularly in restoring operations at the Port Harcourt and Warri refineries. He wished them success in their future pursuits.