Tinubu Overhauls NNPC Board, Sacks Mele Kyari and Pius Akinyelure, Appoints Bashir Ojulari as CEO, and Unveils New 11-Member Team to Drive Energy Sector Reforms
In a sweeping restructuring of the Nigerian National Petroleum Company Limited (NNPC), President Bola Tinubu has dismissed the board chairman, Pius Akinyelure, and the Group Chief Executive Officer, Mele Kyari. The decision, which also affects all other board members appointed in November 2023, marks a significant overhaul of the nation’s oil sector leadership.
Effective April 2, 2025, Tinubu has appointed Bashir Ojulari as the new Group Chief Executive Officer (CEO) and Ahmadu Musa Kida as the non-executive chairman of the NNPC board. The announcement was made in the early hours of Wednesday by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, in a statement titled, President Tinubu Reconstitutes NNPC Limited Board, Appoints New Chairman, Group CEO.
The newly constituted 11-member board includes key figures representing Nigeria’s six geopolitical zones. Among them are 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). Adedapo Segun, who replaced Umaru Ajiya as Chief Financial Officer last November, retains his position on the new board. Additionally, Mrs. Lydia Shehu Jafiya will represent the Federal Ministry of Finance, while Aminu Ahmed will serve as the representative for the Ministry of Petroleum Resources.
President Tinubu invoked Section 59, Subsection 2 of the Petroleum Industry Act, 2021, in making the sweeping changes, citing the need for greater operational efficiency, increased investor confidence, and enhanced local content participation. He tasked the new board with an immediate strategic portfolio review of NNPC’s operated and joint venture assets to ensure alignment with value maximization objectives.
Since taking office in 2023, the Tinubu administration has pursued bold reforms in the oil and gas sector. In 2024, NNPC secured $17 billion in new investments. The administration now aims to increase investment to $30 billion by 2027 and $60 billion by 2030. Additionally, it seeks to ramp up oil production to two million barrels per day by 2027 and three million barrels by 2030. The government is also targeting a gas production increase to eight billion cubic feet per day by 2027 and 10 billion by 2030.
Bashir Ojulari, the new Group CEO, hails from Kwara State and brings extensive experience to the role. Before his appointment, he served as Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. His firm recently led the $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria. Ojulari, an alumnus of Ahmadu Bello University, Zaria, has held leadership roles in multinational oil corporations, including Shell and Elf Aquitaine, with experience in Nigeria, Europe, and the Middle East.
Similarly, Ahmadu Musa Kida, the new non-executive chairman, is an industry veteran with a background in petroleum engineering. A former Deputy Managing Director at Total Nigeria, Kida has over three decades of experience in the oil sector. He is also a former basketball player and the current president of the Nigerian Basketball Federation.
President Tinubu thanked the outgoing board members for their service, particularly their role in reviving the long-dormant Port Harcourt and Warri refineries. He wished them well in their future endeavors and expressed confidence that the newly appointed team will drive NNPC toward achieving its ambitious energy sector goals.
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, President Bola Tinubu has dismissed the board chairman, Pius Akinyelure, and the Group Chief Executive Officer, Mele Kyari. The decision, which also affects all other board members appointed in November 2023, marks a significant overhaul of the nation’s oil sector leadership.){kind=link}