President Bola Tinubu’s decision to dismiss Mele Kyari and other board members of the Nigerian National Petroleum Company Limited (NNPCL) was driven by concerns over their performance and failure to meet key production targets, according to Presidency officials.
In a decisive move on Wednesday, Tinubu removed Kyari, who had led the national oil company since 2019, as part of a broader effort to enhance Nigeria’s crude oil and gas production.
“President Tinubu removed all board members appointed alongside Pius Akinyelure and Kyari in November 2023,” stated Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, in a statement released early Wednesday.
To replace Kyari, Tinubu appointed Bashir Ojulari as the new Group CEO, effective April 2, 2025. The newly constituted 11-member board will be led by Bayo Ojulari as Group CEO and Musa Ahmadu-Kida as the non-executive chairman.
Performance-Based Reshuffle.
Multiple Presidency sources revealed that the shake-up was necessary due to inefficiencies in leadership. A senior official, speaking anonymously, stated, “The President acted based on performance. The previous leadership was ineffective, and some had become obstacles to progress. A fresh team with new energy was required.”
Another source added, “This decision isn’t about age. The NNPCL is a limited liability company and not bound by civil service regulations. The President expects results, particularly in crude oil production and asset optimization. By 2030, Nigeria must produce three million barrels of crude per day, while stabilizing at two million per day by 2027. Gas production must also reach 10 billion cubic meters by 2030.”
New Leadership and Their Mandate.
Among the newly appointed officials is Adedapo Segun, who replaced Umaru Isa Ajiya as Chief Financial Officer last November. Six non-executive board members represent the country’s geopolitical zones:
- Bello Rabiu (North West)
- Yusuf Usman (North East)
- Babs Omotowa (North Central)
- Austin Avuru (South-South)
- David Ige (South West)
- Henry Obih (South East)
Additionally, Lydia Jafiya from the Ministry of Finance and Aminu Said Ahmed from the Ministry of Petroleum Resources will serve on the board. All appointments took effect on April 2, 2025.
Strategic Objectives.
Tinubu has outlined clear expectations for the new board, including a strategic review of NNPCL-operated and Joint Venture Assets. His administration seeks to boost investment in the sector from $17 billion in 2023 to $30 billion by 2027 and $60 billion by 2030.
Further goals include elevating NNPCL’s crude oil refining output to 200,000 barrels per day by 2027 and 500,000 barrels by 2030.
Background of Key Appointees.
Musa Ahmadu-Kida, the new board chairman from Borno State, has decades of experience in the oil industry, beginning his career at Elf Petroleum Nigeria and later joining Total Exploration and Production in 1985. In 2015, he became Deputy Managing Director of Deep Water Services at Total Nigeria.
Bashir Ojulari, the newly appointed NNPCL Group CEO, hails from Kwara State. Before his appointment, he was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company, which led a landmark $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria.
Industry Reactions and Expectations.
Experts in the oil and gas sector have urged the new leadership to focus on key priorities, including refinery rehabilitation, investor confidence, and strategic divestments.
Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), welcomed the reshuffle, stating, “This is a positive development. The President is committed to revitalizing the oil and gas industry. The new leadership must ensure that refineries operate at full capacity to provide affordable fuel for Nigerians.”
Ukadike also emphasized the importance of optimizing the Port Harcourt, Warri, and Kaduna refineries to create more jobs and strengthen Nigeria’s energy sector.
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Aiming for an Optimized Oil Sector.
Under Kyari’s leadership, some reforms were introduced, but crude oil production remained below target. Nigeria, once Africa’s top oil producer, has struggled to meet its OPEC quota due to issues such as pipeline vandalism, underinvestment, and outdated infrastructure.
With this leadership overhaul, Tinubu’s administration is signaling its determination to reposition the NNPCL for greater efficiency and productivity in the years ahead.
