President Bola Ahmed Tinubu has approved the sweeping reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, in a decisive move aimed at revitalizing Nigeria’s oil and gas industry.
The newly constituted 11-member board, announced on April 2, 2025, includes Engineer Bashir Bayo Ojulari as the new GCEO and Ahmadu Musa Kida as the non-executive chairman. President Tinubu invoked his authority under Section 59, Subsection 2 of the Petroleum Industry Act, 2021.
“The changes are aimed at enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialization and diversification.”
President Bola Ahmed Tinubu
The restructuring sees the removal of the board chairman, Chief Pius Akinyelure, and the Group Chief Executive Officer (GCEO), Mallam Mele Kolo Kyari, along with all other board members who were appointed in November 2023.
The reconstituted board represents a strategic balance of technocrats and industry experts drawn from different geopolitical zones.
Other board members include Adedapo Segun as chief financial officer and six non-executive directors representing Nigeria’s geopolitical zones: Bello Rabiu (North West), Yusuf Usman (North East), Babs Omotowa (North Central), Austin Avuru (South-South), David Ige (South West), and Henry Obih (South East).
Additionally, Mrs. Lydia Shehu Jafiya will represent the Federal Ministry of Finance, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
President Tinubu underscored the importance of this diverse composition, stating, “The new board is expected to bring fresh perspectives, expertise, and the drive needed to position NNPC Limited as a globally competitive energy company.”
The newly appointed Group CEO, Bashir Bayo Ojulari, from Kwara State, boasts a rich background in petroleum engineering, having earned his degree from Ahmadu Bello University.
His professional experience includes working as a process engineer for Elf Aquitaine before joining Shell Petroleum Development Company of Nigeria in 1991.
He has held various strategic positions globally, including managing director of Shell Nigeria Exploration and Production Company (SNEPCO).
Before his appointment, Ojulari led Renaissance Africa Energy Company, which oversaw the landmark $2.4 billion acquisition of Shell Petroleum Development Company’s Nigerian assets.
Ahmadu Musa Kida, the newly appointed non-executive chairman hails from Borno State and holds a degree in civil engineering from Ahmadu Bello University, Zaria.
His career in the petroleum industry spans several decades, having worked at Elf Petroleum Nigeria and later Total Exploration and Production.
He served as Total Nigeria’s Deputy Managing Director for Deep Water Services before transitioning into leadership roles in other energy firms.
Besides his oil sector expertise, Kida is known for his contributions to Nigerian basketball, previously serving as President of the Nigerian Basketball Federation.
Mandate for the New NNPC Board
One of the key directives from President Tinubu is for the new board to conduct a strategic portfolio review of NNPC’s operated and joint venture assets.
This is intended to align the company’s activities with value maximization objectives, ensuring that Nigeria gets the best returns from its oil and gas resources.
Since coming into office in 2023, Tinubu’s administration has embarked on ambitious oil sector reforms to attract foreign direct investment.
Last year, NNPC announced $17 billion in new sector investments, and the administration is now targeting $30 billion by 2027 and $60 billion by 2030.
President Tinubu expressed appreciation to the outgoing board members, acknowledging their contributions, especially in reviving the Port Harcourt and Warri refineries, which had been dormant for years.
“The dedication of the previous board was instrumental in restoring refining capacity, and we thank them for their service.”
President Bola Ahmed Tinubu
With this reconstitution, President Tinubu is setting a new direction for NNPC Limited, focusing on efficiency, investment attraction, and national energy security.
The newly appointed board faces immense expectations, from increasing production capacity to ensuring transparency and profitability in Nigeria’s oil sector.
The coming months will be crucial in determining whether this high-stakes leadership overhaul delivers the transformative impact that Nigeria’s oil and gas industry desperately needs.
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