Presidency Backs Tinubu’s Decision to Sack Kyari, Appoints Bashir Ojulari as New NNPCL CEO and Musa Ahmadu-Kida as Chairman, Aiming to Revamp Oil Sector and Meet Production Targets
In a decisive move to revamp Nigeria’s oil and gas sector, President Bola Tinubu has removed Mele Kyari as Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), along with the entire board, citing concerns over underperformance and failure to meet key production targets. The overhaul, announced on Wednesday, signals Tinubu’s commitment to repositioning the NNPCL for improved efficiency and output.
Performance Shortfalls Prompt Leadership Change
According to Presidency officials, Kyari and his team were dismissed due to their inability to significantly improve Nigeria’s crude oil and gas production. The NNPCL has struggled for years to meet its Organization of the Petroleum Exporting Countries (OPEC) quota, with output stagnating around 1.5 million barrels per day, far below the set targets. Sources revealed that under Kyari’s leadership, the company failed to make meaningful progress despite reforms introduced to boost production.
One senior official, speaking on condition of anonymity, explained that the administration was dissatisfied with the previous leadership’s approach. “The former team was taking us in circles. Some of them became part of the problem rather than the solution. The President believes that we need new minds with fresh strategies to turn things around,” the official said.
New Leadership and Strategic Targets
Following Kyari’s dismissal, Tinubu has appointed Bashir Ojulari as the new Group CEO, effective April 2, 2025, with Musa Ahmadu-Kida named as non-executive chairman. The newly constituted 11-member board consists of seasoned industry professionals rather than political appointees, marking a significant shift in NNPCL’s management approach.
The President has set ambitious targets for the new leadership, including stabilizing crude oil production at 2 million barrels per day by 2027 and increasing it to 3 million barrels per day by 2030. Additionally, the administration aims to boost Nigeria’s gas output to 10 billion cubic meters within the same period.
NNPCL’s Struggles and the Need for Reform
Nigeria, once Africa’s top oil producer, has struggled to maintain its position due to declining investments, pipeline vandalism, and operational inefficiencies. The NNPCL, which transitioned into a commercial entity in 2021, has failed to significantly increase output, leading to mounting frustration from the government and industry stakeholders.
Despite securing $17 billion in new investments in 2024, officials say the administration wants to increase investment inflows to $30 billion by 2027 and $60 billion by 2030. Tinubu has directed the new board to conduct a strategic review of NNPCL’s joint venture assets and optimize underperforming oil blocks.
Stakeholder Reactions
The industry has largely welcomed the shake-up, with experts and trade groups expressing optimism that the new leadership will drive the much-needed reforms. The Independent Petroleum Marketers Association of Nigeria (IPMAN) described the changes as a “welcome development,” urging the new executives to focus on revamping Nigeria’s refineries and ensuring fuel availability.
Similarly, the Nigerian Association of Petroleum Explorationists (NAPE) praised Tinubu’s decision, calling it a bold step towards achieving efficiency, transparency, and commercial viability in the oil sector.
A New Era for NNPCL?
The restructuring of NNPCL’s leadership comes at a critical time when Nigeria’s energy sector is undergoing significant changes. With expectations high, the new leadership under Ojulari faces the daunting task of delivering on the President’s mandate to transform the NNPCL into a more efficient and commercially viable entity.
President Tinubu has assured Nigerians that the shake-up is part of his broader vision to reform the nation’s oil sector, drive investment, and ensure that Nigeria meets its energy production targets in the coming years. Whether the new leadership can achieve these goals remains to be seen, but one thing is certain change has come to the NNPCL.
Follow News Review on Facebook and X
, along with the entire board, citing concerns over underperformance and failure to meet key production targets. The overhaul, announced on Wednesday, signals Tinubu’s commitment to repositioning the NNPCL for improved efficiency and output.){kind=link}