El-zionNews

Just In: President Tinubu Sacks Mele Kyari As NNPC CEO, Names Bayo Ojulari As Replacement

President Bola Tinubu has announced sweeping changes at the Nigerian National Petroleum Company (NNPC) Limited, including the dismissal of Mele Kyari as the Group Chief Executive Officer (GCEO) and the dissolution of its board.

This decision, effective April 2, 2025, is part of the government’s strategy to enhance the operational efficiency of the oil giant and restore investor confidence.

A statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed that Tinubu invoked his powers under Section 59(2) of the Petroleum Industry Act (PIA) 2021 to carry out the leadership overhaul aimed at making NNPC more commercially viable and efficient.

In a move to strengthen the company’s leadership, Bayo Ojulari, a seasoned oil and gas professional, has been appointed as the new GCEO of NNPC.

He replaces Mele Kyari, whose tenure has been marked by the challenges the country’s oil sector continues to face. Additionally, Ahmadu Musa Kida has been appointed as the new non-executive chairman, taking over from Pius Akinyelure.

Kida has decades of experience in the sector and is expected to provide valuable leadership as NNPC continues its transformation.

The President also appointed Adedapo Segun as the company’s new Chief Financial Officer (CFO), marking another significant change in the company’s leadership structure.

As part of the restructuring, six non-executive directors representing each of Nigeria’s geopolitical zones have been appointed to the NNPC board.

These directors include Bello Rabiu (North-West), Yusuf Usman (North-East), and Babs Omotowa (North-Central). From the South, Austin Avuru (South-South), David Ige (South-West), and Henry Obih (South-East) complete the regional representation.

In addition, the Permanent Secretary of the Federal Ministry of Finance, Lydia Shehu Jafiya, and Aminu Said Ahmed from the Ministry of Petroleum Resources will represent their ministries on the new board.

The president outlined a strategic action plan for the new NNPC leadership, which includes a review of the company’s operated and Joint Venture assets to align with value maximization objectives.

Tinubu’s administration is focusing on significant reforms in the oil sector, aiming to boost domestic refining capacity and ensure energy security for the country.