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President Tinubu Overhauls NNPC Leadership, Appoints New Board
April 2, 2025 – In a sweeping move to reform Nigeria’s petroleum sector, President Bola Ahmed Tinubu has approved the complete reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing Chairman Pius Akinyelure and Group CEO Mele Kolo Kyari.
Complete Board Restructuring
The presidential action removes all board members appointed in November 2023, replacing them with an eleven-member team effective immediately. This decisive move comes under Section 59(2) of the Petroleum Industry Act 2021.
New NNPC Leadership Team
The reconstituted board features:
- Engineer Bashir Bayo Ojulari – New Group CEO
- Ahmadu Musa Kida – Non-executive Chairman
- Adedapo Segun – Chief Financial Officer (retained from previous board)
Geopolitical Representation
The new board maintains regional balance with six non-executive directors representing Nigeria’s geopolitical zones:
- North West: Bello Rabiu
- North East: Yusuf Usman
- North Central: Babs Omotowa (former NLNG MD)
- South South: Austin Avuru
- South West: David Ige
- South East: Henry Obih
Additional members include Mrs. Lydia Shehu Jafiya (Federal Ministry of Finance) and Aminu Said Ahmed (Ministry of Petroleum Resources).
Strategic Objectives
President Tinubu emphasized the restructuring aims to:
- Enhance operational efficiency
- Restore investor confidence
- Boost local content participation
- Drive economic growth
- Advance gas commercialization and diversification
Immediate Action Plan
The new board has been directed to conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximization objectives.
This sweeping leadership change marks President Tinubu’s most significant move to reform Nigeria’s crucial petroleum sector since taking office.
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