In a decisive move aimed at revitalizing Nigeria’s oil and gas sector, President Bola Tinubu has dismissed Mele Kyari and other board members of the Nigerian National Petroleum Company Limited (NNPCL). This overhaul follows concerns over underperformance and the urgent need to accelerate crude oil and gas production to meet national and international targets.
The presidency has emphasized that the leadership change was necessary to bring in professionals with fresh perspectives capable of implementing long-overdue reforms. The announcement, made by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, confirmed that all board members appointed in November 2023, including Kyari and Pius Akinyelure, had been relieved of their duties.
The new NNPCL leadership will be spearheaded by Bashir Ojulari, who assumes the role of Group Chief Executive Officer (GCEO) effective April 2, 2025. Ojulari brings a wealth of experience, having served as Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company.
Beyond personnel changes, Tinubu has set ambitious production targets for the new management. The administration expects crude oil output to stabilize at two million barrels per day by 2027 and reach three million barrels per day by 2030. Additionally, the government is pushing for a significant boost in gas production, setting a target of 10 billion cubic meters by 2030.
The President has also directed the new leadership to conduct a strategic portfolio review of NNPCL-operated and Joint Venture Assets. This is intended to ensure that all underperforming assets are optimized for maximum value, with a particular focus on increasing the country’s refining capacity. By 2027, NNPCL is expected to refine at least 200,000 barrels per day, with further expansion to 500,000 barrels per day by 2030.
The newly constituted 11-member board includes Musa Ahmadu-Kida as the non-executive chairman, alongside industry experts and representatives from key government ministries. The appointees, chosen for their expertise rather than political affiliations, represent Nigeria’s six geopolitical zones and are expected to drive critical reforms.
Notable appointees include:
- Bello Rabiu (North West)
- Yusuf Usman (North East)
- Babs Omotowa (North Central)
- Austin Avuru (South-South)
- David Ige (South West)
- Henry Obih (South East)
Additionally, Lydia Jafiya, Permanent Secretary of the Ministry of Finance, and Aminu Said Ahmed, representing the Ministry of Petroleum Resources, will serve on the board.
Industry experts and stakeholders have responded positively to the restructuring, viewing it as a much-needed step to reposition the NNPCL for efficiency and global competitiveness. The Independent Petroleum Marketers Association of Nigeria (IPMAN) has welcomed the new appointments, urging the leadership to prioritize refinery rehabilitation to ensure fuel availability and affordability for Nigerians.
Similarly, the Nigerian Association of Petroleum Explorationists (NAPE) has lauded the President’s decision, stating that the new board’s composition aligns with the goal of fostering transparency and efficiency in the sector. Experts have also emphasized the importance of restoring investor confidence and ensuring that Nigeria meets its production quotas under the Organization of the Petroleum Exporting Countries (OPEC).
