Tinubu Overhauls NNPC Board with New Leadership Appointments
In a sweeping shake-up of Nigeria’s oil sector, President Bola Ahmed Tinubu has reconstituted the board of the Nigerian National Petroleum Company (NNPC) Limited, removing the previous leadership and appointing an entirely new team. The restructuring, which took effect immediately on April 2, 2025, saw the dismissal of Chairman Chief Pius Akinyelure, Group CEO Mallam Mele Kyari, and all board members who were appointed in November 2023.
The new 11-member board is now led by Engr. Bashir Bayo Ojulari as Group CEO and Ahmadu Musa Kida as non-executive chairman. In a further significant move, Adedapo Segun—who recently replaced Umaru Isa Ajiya as chief financial officer—has been named a board member.
Representing Nigeria’s six geopolitical zones on the board are Bello Rabiu (North West), Yusuf Usman (North East), and Babs Omotowa (North Central), a former managing director of the Nigerian Liquified Natural Gas (NLNG). Additional non-executive directors include Austin Avuru (South-South), David Ige (South West), and Henry Obih (South East). Mrs. Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, and Aminu Said Ahmed from the Ministry of Petroleum Resources also secured board representation.
President Tinubu invoked Section 59, subsection 2 of the Petroleum Industry Act, 2021, to justify the restructuring. The president underscored the urgency of enhancing operational efficiency, restoring investor confidence, and advancing gas commercialisation and diversification. As part of a broader strategy, the new board is tasked with conducting a strategic portfolio review of NNPC-operated and Joint Venture assets to align operations with value maximisation goals.
Since 2023, Tinubu’s administration has embarked on a series of reforms in the oil sector, attracting $17 billion in new investments. Looking ahead, the government aims to escalate investment to $30 billion by 2027 and $60 billion by 2030. Alongside these financial targets, the administration has set ambitious production goals: raising oil output to two million barrels per day by 2027 and three million by 2030, while gas production is projected to climb to 8 billion cubic feet daily by 2027 and 10 billion by 2030. The government also expects an increase in NNPC’s share of crude oil refining output, targeting 200,000 barrels by 2027 and 500,000 by 2030.
Ahmadu Musa Kida, the new board chairman from Borno State and an alumnus of Ahmadu Bello University, Zaria, brings a wealth of industry experience. His credentials include a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP) in Paris, along with significant roles at Elf Petroleum Nigeria, Total Exploration and Production, and Pan Ocean-Newcross Group. Kida is also known for his tenure as a basketball player and as the former president of the Nigerian Basketball Federation (NBBF).
Engr. Bashir Bayo Ojulari, hailing from Kwara State, takes the helm as Group CEO. An alumnus of Ahmadu Bello University, Ojulari began his career at Elf Aquitaine before progressing to Shell Petroleum Development Company, where he worked across Europe and the Middle East. His leadership roles have included serving as the managing director of Shell Nigeria Exploration and Production Company (SNEPCO) and as chairman of the Society of Petroleum Engineers (SPE Nigerian Council).
In his remarks, President Tinubu stressed that the board reshuffle is pivotal for boosting local content, driving economic growth, and securing Nigeria’s position in the competitive global energy market. He also expressed gratitude to the outgoing board members for their contributions, particularly their efforts in revitalising the Port Harcourt and Warri refineries, wishing them success in future endeavours.
The restructuring is widely seen as a strategic move to position NNPC for a new phase of operational excellence and expanded international investment, reinforcing Nigeria’s commitment to transforming its oil and gas sector.
