President Tinubu Reshuffles NNPC Limited Board, Appoints New Leadership
Sweeping Changes to Drive Efficiency and Investment in Nigeria’s Oil Sector
In a bold move to strengthen Nigeria’s oil and gas industry, President Bola Ahmed Tinubu has reconstituted the Nigerian National Petroleum Company (NNPC) Limited board, appointing new leadership to steer the corporation toward greater efficiency, transparency, and profitability.
The shake-up sees Engineer Bashir Bayo Ojulari take over as Group Chief Executive Officer (GCEO), while Ahmadu Musa Kida assumes the role of Non-Executive Chairman. This decision also removes Chief Pius Akinyelure, former chairman, and Mallam Mele Kyari, former GCEO, alongside other board members who were appointed in November 2023.
Ahmadu Musa Kida (Board Chairman) NNPCL
New Faces, New Vision for NNPC Limited
The newly constituted 11-member board comprises a mix of industry experts, financial strategists, and regional representatives, ensuring balanced oversight and strategic direction. Key appointments include:
🔹 Adedapo Segun (Chief Financial Officer)
🔹 Bello Rabiu (Non-Executive Director, North West)
🔹 Yusuf Usman (Non-Executive Director, North East)
🔹 Babs Omotowa (Non-Executive Director, North Central)
🔹 Austin Avuru (Non-Executive Director, South-South)
🔹 David Ige (Non-Executive Director, South West)
🔹 Henry Obih (Non-Executive Director, South East)
🔹 Mrs. Lydia Shehu Jafiya (Permanent Secretary, Federal Ministry of Finance)
🔹 Aminu Said Ahmed (Representative, Ministry of Petroleum Resources)
former GCEO of NNPC Limited, Mallam Mele Kyari
Why This Restructuring Matters
President Tinubu invoked Section 59, Subsection 2 of the Petroleum Industry Act (PIA) 2021, stating that the new board will focus on:
✅ Enhancing operational efficiency and corporate governance.
✅ Attracting local and foreign investment into Nigeria’s oil and gas sector.
✅ Expanding oil production to 2 million barrels per day (bpd) by 2027 and 3 million bpd by 2030.
✅ Scaling up gas production to 8 billion cubic feet per day by 2027 and 10 billion cubic feet by 2030.
✅ Increasing NNPC’s refining capacity, targeting 200,000 bpd by 2027 and 500,000 bpd by 2030.
✅ Strengthening investor confidence by improving financial transparency and risk management.
Ahmadu Musa Kida (Board Chairman) NNPCL
Who Are the New Leaders of NNPC Limited?
🔵 Ahmadu Musa Kida (Board Chairman)
A seasoned oil executive, Kida has decades of experience, having worked at Elf Petroleum Nigeria and later Total Exploration and Production. He was Deputy Managing Director of Total Nigeria’s Deep Water Services and most recently served as an Independent Non-Executive Director at Pan Ocean-Newcross Group.
Engineer Bashir Bayo Ojulari (Group CEO) NNPCL
🔵 Bashir Bayo Ojulari (Group CEO)
Ojulari brings vast global experience, having worked at Elf Aquitaine, Shell Petroleum, and Renaissance Africa Energy. He led a consortium that acquired Shell’s Nigerian assets for $2.4 billion, positioning him as a key player in Nigeria’s oil sector transformation.
The Road Ahead for Nigeria’s Oil Industry
Since 2023, the Tinubu administration has prioritized oil sector reforms, attracting $17 billion in new investments and setting a target of $30 billion by 2027 and $60 billion by 2030.
With Ojulari and Kida at the helm, the government expects a revitalized NNPC, capable of:
📈 Boosting oil and gas output
💰 Securing more foreign investments
🏗️ Strengthening refining capacity
🌍 Advancing Nigeria’s role in the global energy market
President Tinubu expressed gratitude to the outgoing board members for their contributions, particularly in rehabilitating the Port Harcourt and Warri refineries, and wished them success in future endeavors.
Comments
This post currently has no comments.