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,,,,Replaces Kyari with Ojulari.
Mele Kyari.
By correspondent in Abuja.
In a significant shake-up aimed at strengthening Nigeria’s oil and gas sector, President Bola Tinubu has removed Mele Kyari as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited and dissolved its board.
The restructuring, effective April 2, 2025, was announced in a statement in Abuja on Tuesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
According to him, the decision aligns with Tinubu’s commitment to enhancing operational efficiency, restoring investor confidence, and transforming NNPC into a more commercially viable entity.
He said that as part of the overhaul, Tinubu exercised his powers under Section 59(2) of the Petroleum Industry Act (PIA) 2021,to appoint new executives to steer NNPC in a new direction.
The new appointees are:Ahmadu Musa Kida – Non-Executive Chairman, replacing Pius Akinyelure,
Bashir Bayo Ojulari – Group Chief Executive Officer (GCEO), taking over from Mele Kyari..while Adedapo Segun is the Chief Financial Officer (CFO).
Onanuga quoted the president as saying that the shake-up come amid growing concerns over NNPC’s financial transparency, operational challenges, and the need to attract more foreign investments into Nigeria’s petroleum industry.
According to Onanuga,the Petroleum Industry Act (PIA), which governs the oil sector, mandates that NNPC be run as a fully commercialized, profit-driven entity rather than a bureaucratic government corporation.
He said by restructuring NNPC’s leadership, the government aims to improve accountability and efficiency in Nigeria’s oil and gas sector.,encourage private sector participation in the petroleum industry.and align NNPC with global best practices to enhance its competitiveness.
“This restructuring is aimed at repositioning NNPC Limited for greater productivity and efficiency in line with global best practices. We are taking bold steps to transform the company into a more commercially driven and transparent entity,” the presidential aide emphasized.
With the new leadership team in place, industry experts will be watching closely to see whether these changes translate into better fuel supply management, improved revenue generation, and a more stable petroleum sector.
The new executives are expected to implement bold reforms that will shape the future of Nigeria’s oil industry.
As NNPC transitions into this new phase, stakeholders—including international investors, industry players, and the Nigerian public—will be keen to see whether this restructuring will finally address long-standing challenges in the nation’s oil sector.
Edited by Dada Ahmed.
