In a decisive move aimed at revitalizing the Nigerian National Petroleum Company Limited (NNPC), President Bola Tinubu has dismissed the entire board, including Chairman Pius Akinyelure and Group Chief Executive Officer Mele Kyari.
The restructuring, which takes immediate effect from April 2, 2025, saw the appointment of Engineer Bashir Bayo Ojulari as the new Group CEO and Ahmadu Musa Kida as the non-executive chairman.
Presidential spokesperson Bayo Onanuga confirmed the development in a statement released early Wednesday, titled “President Tinubu Reconstitutes NNPC Limited Board, Appoints New Chairman, Group CEO.”
“President Tinubu removed all other board members appointed with Akinyelure and Kyari in November 2023,” the statement read.
The newly constituted 11-member board reflects the country’s geopolitical balance, with six non-executive directors representing different zones.
The appointments include; Bello Rabiu representing the North West, Yusuf Usman representing the North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas, who represents North Central.
Onanuga said further that, “President Tinubu also appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.”
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Additionally, Mrs. Lydia Shehu Jafiya, Permanent Secretary at the Federal Ministry of Finance, will represent the ministry, while Aminu Ahmed will serve as the Ministry of Petroleum Resources’ representative.
“Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Ahmed will represent the Ministry of Petroleum Resources,” Onanuga stated.
The President, exercising his authority under Section 59(2) of the Petroleum Industry Act, 2021, emphasized that the changes were crucial to enhancing operational efficiency, attracting investment, boosting local content, and expanding gas commercialisation.
As part of his immediate directives, Tinubu tasked the new board with conducting a “strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximization objectives.”
The Tinubu administration has been pushing major reforms in the oil sector since 2023. In 2024 alone, NNPC secured $17 billion in fresh investments, with plans to scale this up to $30 billion by 2027 and $60 billion by 2030.
Onanuga further outlined the administration’s ambitious targets which includes; Increase oil production to 2 million barrels per day by 2027 and 3 million by 2030.
In addition, the new board are tasked to boost gas production to 8 billion cubic feet daily by 2027 and 10 billion by 2030.
Furthermore, refining output to hit 200,000 barrels daily by 2027 and 500,000 by 2030 was also set before the newly appointed board.
“Since 2023, the Tinubu administration has implemented oil sector reforms to attract investment. Last year, NNPC reported $17 billion in new investments within the sector. The administration now envisions increasing the investment to $30 billion by 2027 and $60 billion by 2030.
“The Tinubu administration targets raising oil production to two million barrels daily by 2027 and three million daily by 2030. Concurrently, the government wants gas production jacked to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.
“Furthermore, President Tinubu expects the new board to elevate NNPC’s share of crude oil refining output to 200,000 barrels by 2027 and reach 500,000 by 2030,” the presidency said.
However, Ahmadu Musa Kida, the new NNPC chairman, hails from Borno State and holds a Civil Engineering degree from Ahmadu Bello University (ABU), Zaria. He later obtained a postgraduate diploma in petroleum engineering from the Institut Français du Pétrole, Paris.
Kida’s career spans decades in the oil sector, having worked with Elf Petroleum Nigeria before rising through the ranks at Total Exploration and Production. He was appointed Deputy Managing Director of Deep Water Services at Total Nigeria in 2015.
Beyond the oil industry, Kida is known for his contributions to Nigerian basketball, previously serving as the President of the Nigerian Basketball Federation.
“He started his career in the oil industry at Elf Petroleum Nigeria and later joined Total Exploration and Production as a trainee engineer in 1985.
“Musa became Total Nigeria’s Deputy Managing Director of Deep Water Services in 2015. Last year, he became an Independent Non-Executive Director at Pan Ocean-Newcross Group.
“Apart from his oil industry career, Ahmadu Musa Kida is a former basketballer and the president of the Nigerian Basketball Federation(NBBF) board,” Onanuga said.
In a related development, Bashir Bayo Ojulari, the new NNPC Group CEO, is from Kwara State and is also an ABU Zaria alumnus with a Mechanical Engineering degree.
The statement said, “Like Kida, Ojulari is also an alumnus of Ahmadu Bello University, Zaria. He graduated with a degree in Mechanical Engineering. He worked for Elf Aquitaine as the first Nigerian process engineer to begin a stellar career in the oil sector. From Elf, he joined Shell Petroleum Development Company of Nigeria Ltd in 1991 as an associate production technologist.
His career began as a process engineer with Elf Aquitaine before joining Shell Petroleum Development Company in 1991. Over the years, he gained international experience in Europe and the Middle East, holding key roles in petroleum process engineering, strategic planning, and asset management.
Ojulari made history as the first Nigerian managing director of Shell Nigeria Exploration and Production Company in 2015. Most recently, he was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company, where he played a pivotal role in the $2.4 billion acquisition of Shell Petroleum Development Company’s onshore assets.
A respected industry figure, Ojulari has served as chairman of the Society of Petroleum Engineers (Nigerian Council) and is a fellow of the Nigerian Society of Engineers.
Acknowledging the efforts of the dismissed board members, Tinubu praised their dedication, particularly in rehabilitating the Warri and Port Harcourt refineries.
“President Tinubu thanked the old board members for their dedicated service to NNPC Limited, particularly their efforts in rehabilitating the old Port Harcourt and Warri refineries, which enabled them to resume petroleum product production after prolonged shutdowns.
“He wished them well in their future endeavours,” the statement concluded.
