President Bola Ahmed Tinubu has announced a major shake-up in the leadership of the Nigerian National Petroleum Company (NNPC) Limited, replacing the board chairman, Chief Pius Akinyelure, and Group Chief Executive Officer (GCEO), Mallam Mele Kyari.
In a sweeping restructuring move, Tinubu dissolved all other board members appointed alongside Akinyelure and Kyari in November 2023. The new 11-member board will now be led by Ahmadu Musa Kida as Non-Executive Chairman and Engr. Bashir Bayo Ojulari as the Group CEO.
The reconstitution also includes Adedapo Segun as the new Chief Financial Officer, while six non-executive directors represent the six geopolitical zones:
North West: Bello Rabiu
North East: Yusuf Usman
North Central: Babs Omotowa (former NLNG MD)
South South: Austin Avuru
South West: David Ige
South East: Henry Obih
Additionally, Mrs. Lydia Shehu Jafiya will represent the Federal Ministry of Finance, and Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
All appointments take effect immediately.
Tinubu’s Vision for NNPC
Citing Section 59(2) of the Petroleum Industry Act (PIA) 2021, President Tinubu emphasized that the changes aim to enhance operational efficiency, investor confidence, local content development, and economic growth. He has tasked the new board with conducting a strategic review of NNPC-operated and joint venture assets to maximize value.
Since assuming office in 2023, Tinubu’s administration has prioritized oil sector reforms, attracting $17 billion in new investments last year, with a target of $30 billion by 2027 and $60 billion by 2030.
The government’s production targets include:
Oil: 2 million barrels per day by 2027, 3 million by 2030
Gas: 8 billion cubic feet daily by 2027, 10 billion by 2030
Refining Capacity: 200,000 barrels per day by 2027, 500,000 by 2030
Profiles of New Leadership
Ahmadu Musa Kida – Chairman
A native of Borno State, Kida holds a civil engineering degree from Ahmadu Bello University (ABU), Zaria, and a postgraduate diploma in petroleum engineering from Institut Français du Pétrole, Paris.
Kida’s career spans decades in the oil industry, starting with Elf Petroleum Nigeria before moving to Total Exploration and Production. He rose to become Deputy Managing Director of Deep Water Services at Total in 2015.
Apart from his oil industry experience, he is also a former basketballer and past President of the Nigerian Basketball Federation (NBBF).
Bashir Bayo Ojulari – Group CEO
Ojulari, from Kwara State, is a mechanical engineering graduate of ABU, Zaria. He began his career at Elf Aquitaine before joining Shell Petroleum Development Company (SPDC) in 1991.
His career includes roles in Europe, the Middle East, and Nigeria as a petroleum engineer, strategic planner, and field developer. In 2015, he became Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO).
Ojulari recently led Renaissance Africa Energy Company in acquiring Shell Petroleum Development Company (SPDC) for $2.4 billion. He is a fellow of the Nigerian Society of Engineers and a board trustee of the Society of Petroleum Engineers (SPE Nigeria).
Acknowledging the Past Board
President Tinubu commended the outgoing board for their contributions, particularly in rehabilitating the Port Harcourt and Warri refineries, enabling them to resume production after years of inactivity. He wished them well in their future endeavors.
With the new NNPC board in place, the administration aims to accelerate energy sector transformation
and position Nigeria as a key global player in oil and gas.
