Tinubu Reshuffles NNPC Board, Appoints New Leadership

In a significant shake-up of Nigeria’s oil sector, President Bola Ahmed Tinubu has reconstituted the board of the Nigerian National Petroleum Company (NNPC) Limited, appointing new leadership and replacing key officials.

This restructuring sees Engr. Bashir Bayo Ojulari stepping in as the new Group Chief Executive Officer (GCEO), while Ahmadu Musa Kida takes over as the Non-Executive Chairman. The move also affects all board members appointed in November 2023, including outgoing chairman Chief Pius Akinyelure and Mallam Mele Kyari, who previously served as the Group CEO.

New NNPC Board Composition

The newly appointed 11-member board includes representatives from Nigeria’s six geopolitical zones, alongside key industry figures:

Non-Executive Chairman: Ahmadu Musa Kida
Group Chief Executive Officer (GCEO): Engr. Bashir Bayo Ojulari
Chief Financial Officer (CFO) & Board Member: Adedapo Segun
Zonal Representatives:
- Bello Rabiu (North West)
- Yusuf Usman (North East)
- Babs Omotowa (North Central) (former MD of NLNG)
- Austin Avuru (South-South)
- David Ige (South West)
- Henry Obih (South East)
Ministry Representatives:
- Federal Ministry of Finance: Mrs. Lydia Shehu Jafiya (Permanent Secretary)
- Ministry of Petroleum Resources: Aminu Said Ahmed

These appointments take immediate effect from April 2, 2025.

Why the Reshuffle?

President Tinubu invoked Section 59, Subsection 2 of the Petroleum Industry Act (PIA) 2021 to justify the restructuring, citing the need to:
✅ Enhance operational efficiency
✅ Restore investor confidence
✅ Boost local content participation
✅ Advance gas commercialization and diversification

The government has already attracted $17 billion in new oil and gas investments since 2023. Moving forward, it aims to increase investments to $30 billion by 2027 and $60 billion by 2030.

Strategic Targets for the New NNPC Board

The Tinubu administration has set ambitious targets for the nation’s oil and gas sector, including:

📌 Oil Production:

2 million barrels per day (bpd) by 2027
3 million bpd by 2030

📌 Gas Production:

8 billion cubic feet per day (bcf/d) by 2027
10 bcf/d by 2030

📌 Crude Oil Refining Capacity:

200,000 bpd by 2027
500,000 bpd by 2030

Who Are the New Leaders?

Ahmadu Musa Kida – Non-Executive Chairman

Kida hails from Borno State and is an alumnus of Ahmadu Bello University, Zaria. He holds a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP), Paris.

His career began at Elf Petroleum Nigeria, and he later joined Total Exploration and Production, where he rose to become Deputy Managing Director of Deep Water Services in 2015. He most recently served as an Independent Non-Executive Director at Pan Ocean-Newcross Group.

Beyond the oil industry, Kida is also known for his basketball career, having served as President of the Nigerian Basketball Federation (NBBF).

Engr. Bashir Bayo Ojulari – Group CEO

Ojulari, from Kwara State, was formerly the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. His company played a key role in the $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC).

A graduate of Ahmadu Bello University, Ojulari started his career at Elf Aquitaine before joining Shell Petroleum Development Company in 1991. Over the years, he has worked across Europe and the Middle East, eventually becoming the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO) in 2015.

Ojulari is also a Fellow of the Nigerian Society of Engineers (NSE) and has served as Chairman & Board Trustee of the Society of Petroleum Engineers (SPE Nigeria Council).

Tinubu’s Message to the Outgoing Board

In an official statement, Bayo Onanuga, Special Adviser to the President on Information & Strategy, praised the outgoing board members for their contributions, particularly in reviving the Port Harcourt and Warri refineries.

President Tinubu expressed gratitude for their service and wished them success in their future endeavors.

What’s Next for NNPC?

With the new leadership in place, all eyes are on the NNPC Limited to deliver on these ambitious targets, drive sector reforms, and attract fresh investments into Nigeria’s oil and gas industry.