President Bola Tinubu has removed Mele Kyari as the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) and dissolved its board, including Chairman Chief Pius Akinyelure.
Bayo Onanuga, Special Adviser to the President on Information and Strategy, announced the decision in a statement on Wednesday.
According to Onanuga, Tinubu exercised his authority under Section 59(2) of the Petroleum Industry Act (PIA) 2021 to restructure the leadership, aiming to improve operational efficiency, restore investor confidence, and enhance the commercial viability of the NNPCL.
As part of the reconstitution, Tinubu approved a new 11-member board, appointing Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as the non-executive chairman.
The statement further revealed that Adedapo Segun, who replaced Umaru Isa Ajiya as Chief Financial Officer in November, has been retained on the new board.
Additionally, six non-executive directors were appointed to represent Nigeria’s geopolitical zones:
Bello Rabiu (North West)
Yusuf Usman (North East)
Babs Omotowa, former managing director of the Nigerian Liquefied Natural Gas (NLNG) (North Central)
Austin Avuru (South-South)
David Ige (South West)
Henry Obih (South East)
Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, will represent the ministry on the board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
All appointments take effect from April 2, 2025.
