President Bola Tinubu has sacked Mele Kyari as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, effective immediately.
Kyari’s replacement is Bayo Ojulari, a seasoned expert in the oil and gas industry.
Ojulari, a former Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo), brings over three decades of experience to the table. His appointment is seen as a strategic move to reposition NNPC for greater productivity and efficiency.
Additionally, President Tinubu has appointed Ahmadu Musa Kida as the new non-executive chairman of NNPC’s board, replacing Pius Akinyelure. Kida, a former Deputy Managing Director of Total Oil, has over 32 years of experience in the oil and gas industry.
The shake-up also includes the dissolution of the NNPC’s board and the appointment of six new non-executive directors, representing each geopolitical zone. The new board members include Bello Rabiu (North-West), Yusuf Usman (North-East), and Babs Omotowa (North-Central), among others.
The changes are aimed at enhancing operational efficiency, restoring investor confidence, and making NNPC more commercially viable. President Tinubu has also set ambitious targets for the oil and gas sector, including increasing crude oil production to two million barrels daily by 2027 and three million by 2030.
