President Bola Ahmed Tinubu has approved a major overhaul of the Nigerian National Petroleum Company (NNPC) Limited board, removing the former chairman, Chief Pius Akinyelure, and Group CEO, Mallam Mele Kolo Kyari, along with the other board members appointed in November 2023. In their place, Tinubu has appointed an 11-man board, with Engineer Bashir Bayo Ojulari as Group CEO and Ahmadu Musa Kida as non-executive chairman.
The newly appointed board members represent Nigeria’s six geopolitical zones, with key appointments including Bello Rabiu for the North West, Yusuf Usman for the North East, Babs Omotowa for North Central, Austin Avuru for the South-South, David Ige for the South West, and Henry Obih for the South East. Mrs. Lydia Shehu Jafiya from the Ministry of Finance and Aminu Said Ahmed from the Ministry of Petroleum Resources are also included.
This restructuring, effective from April 2, is part of President Tinubu’s strategic efforts to enhance operational efficiency, restore investor confidence, boost local content, and further diversify gas commercialization. The new board is tasked with conducting a strategic portfolio review of NNPC’s operations while continuing the administration’s push for oil sector reforms aimed at attracting increased investment.
