President Bola Tinubu has made significant changes to the Nigerian National Petroleum Company (NNPC) Limited, removing Mele Kyari as the Group Chief Executive Officer (CEO) and dissolving the entire board. This decision, which took effect on April 2, 2025, aims to enhance operational efficiency, restore investor confidence, and boost local content.
The new 11-man board will be led by Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as the non-executive chairman. Ojulari, who hails from Kwara State, brings extensive experience in the oil sector, having worked with companies like Shell and Elf Aquitaine.
The new board members represent the country's geopolitical zones, ensuring diverse perspectives and expertise. They include:
- North West: Bello Rabiu
- North East: Yusuf Usman
- North Central: Babs Omotowa
- South-South: Austin Avuru
- South West: David Ige
- South East: Henry Obih
President Tinubu has tasked the new board with achieving ambitious targets, including:
- Ramping up refining capacity: 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030
- Increasing oil production: 2 million barrels daily by 2027 and 3 million daily by 2030
- Boosting gas production: 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030
These changes demonstrate President Tinubu's commitment to reforming the oil sector and driving economic growth in Nigeria.
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