Written by SpringNewsNG Media Limited
April 2, 2025

In a move akin to a midnight coup d’etat, President Bola Ahmed Tinubu, in the early hours of Wednesday, announced sweeping changes in the leadership of the Nigerian National Petroleum Company Limited (NNPC), removing its Group Chief Executive Officer, Mele Kolo Kyari.

The announcement was made in Abuja by the Special Adviser on Information and Strategy, Bayo Onanuga. Alongside Kyari, the President also removed the NNPC chairman, Pius Akinyelure, in a comprehensive restructuring of the company’s board.

A New Board for a New Era

The President dissolved the entire board appointed in November 2023, replacing it with an 11-member team. Engr. Bashir Bayo Ojulari takes over as the Group CEO, while Ahmadu Musa Kida assumes the role of non-executive chairman.

Other key appointees include Adedapo Segun, who replaces Umaru Isa Ajiya as Chief Financial Officer, and six non-executive directors representing Nigeria’s geopolitical zones:

• North West: Bello Rabiu
• North East: Yusuf Usman
• North Central: Babs Omotowa (Former MD, Nigerian Liquified Natural Gas – NLNG)
• South-South: Austin Avuru
• South West: David Ige
• South East: Henry Obih

Additionally, Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, will represent the ministry, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.

All appointments are effective immediately, starting April 2, 2025.

Mandate for the New Leadership

President Tinubu invoked his authority under Section 59, Subsection 2 of the Petroleum Industry Act, 2021, emphasizing that the restructuring aims to boost operational efficiency, attract investment, restore investor confidence, and advance gas commercialization and diversification.

The President has tasked the new board with:

• Conducting a strategic review of NNPC’s assets and joint ventures for value maximization.
• Increasing oil production to 2 million barrels per day (bpd) by 2027 and 3 million bpd by 2030.
• Expanding gas production to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.
• Elevating NNPC’s crude oil refining output to 200,000 barrels per day by 2027 and 500,000 bpd by 2030.

Profiles of the New Leaders

Ahmadu Musa Kida (Chairman, NNPC Board)

Hailing from Borno State, Kida is a seasoned oil industry expert with a civil engineering degree from Ahmadu Bello University, Zaria (1984). He further obtained a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP), Paris.

His career spans decades in the oil sector, starting with Elf Petroleum Nigeria before moving to Total Exploration and Production in 1985. In 2015, he became Total Nigeria’s Deputy Managing Director for Deep Water Services. He also served as an independent non-executive director at Pan Ocean-Newcross Group and previously led the Nigerian Basketball Federation (NBBF).

Bashir Bayo Ojulari (Group CEO, NNPC Limited)

From Kwara State, Ojulari was previously the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. He played a pivotal role in the $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC).

Ojulari, an Ahmadu Bello University graduate in Mechanical Engineering, began his career with Elf Aquitaine as Nigeria’s first process engineer. He later joined Shell in 1991 and held various strategic roles in Nigeria, Europe, and the Middle East. In 2015, he was appointed Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO).

Tinubu’s Vision for the Future

Since assuming office in 2023, President Tinubu has pursued ambitious oil sector reforms. Last year, NNPC reported $17 billion in new investments. The administration aims to increase this to $30 billion by 2027 and $60 billion by 2030.

President Tinubu commended the outgoing board for their contributions, particularly in reviving the Port Harcourt and Warri refineries. He expressed confidence that the new leadership will usher in an era of enhanced productivity and sustainable growth in Nigeria’s oil and gas sector.