President Bola Tinubu has sacked Mele Kyari as the Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited (NNPCL) and dissolved its board effective April 2, 2025.
The decision was announced early on Wednesday in a statement signed by Bayo Onanuga , Special Adviser to the President on information and strategy.
Citing the need for “enhanced operational efficiency, restored investor confidence and a more commercially viable NNPC,” the President invoked his powers under section 59(2) of the Petroleum Industry Act (PIA) 2021 to carry out the sweeping reconstitution of the Nigerian National Petroleum Company Limited board, removal the chairman, Pius Akinyelure and the Group Chief Executive Officer, Mele Kyari.
Bayo Ojulari who was managing director of Shell Nigeria Exploration and Production Company (SNEPCo) from 2015 to 2021, takes over from Kyari as the new group CEO. Until his new appointment, He was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company.
Also read: Renaissance completes acquisition of Shell Petroleum Company of Nigeria
Ahamadu Musa Kida who was the Deputy Managing Director, Deep Water Services, of Total Nigeria has been appointed as NNPC’s new non-executive Chairman, replacing Pius Akinyelure.
Adedapo Segun, who replaced Umaru Ajiya as the chief financial officer last November, has been confirmed as the company’s chief financial officer (CFO).
Six board members, non-executive directors, represent the country’s geopolitical zones.
They are Bello Rabiu representing the North West, Yusuf Usman representing the North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas, who represents North Central.
“President Tinubu also appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.
“Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Ahmed will represent the Ministry of Petroleum Resources,” Onanuga stated.
All the appointments are effective today, April 2.
“President Tinubu thanked the old board members for their dedicated service to NNPC Limited, particularly their efforts in rehabilitating the old Port Harcourt and Warri refineries, which enabled them to resume petroleum product production after prolonged shutdowns.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
