“`html
Tinubu Sweeps Out Kyari, Replaces Entire NNPC Board in Major Shakeup
President Bola Ahmed Tinubu has approved a complete overhaul of the Nigerian National Petroleum Company (NNPC) Limited leadership, removing Chairman Chief Pius Akinyelure and Group CEO Mallam Mele Kolo Kyari in a sweeping reform of the state oil company.
Complete Board Restructuring
In a statement by Special Adviser on Information and Strategy Bayo Onanuga, the President dissolved the entire board appointed in November 2023, replacing them with an 11-member team led by new Chairman Ahmadu Musa Kida and Group CEO Engineer Bashir Bayo Ojulari.
New NNPC Board Composition
The reconstituted board includes:
- Ahmadu Musa Kida – Non-Executive Chairman
- Bashir Bayo Ojulari – Group CEO
- Adedapo Segun – Chief Financial Officer
- Six zonal representatives including former NLNG MD Babs Omotowa
- Ministry representatives from Finance and Petroleum Resources
Strategic Objectives Behind the Shakeup
Invoking Section 59(2) of the Petroleum Industry Act 2021, President Tinubu emphasized the restructuring aims to:
- Enhance operational efficiency
- Restore investor confidence
- Boost local content participation
- Drive economic growth
- Advance gas commercialization
Ambitious Production Targets
The administration has set aggressive targets for the oil and gas sector:
| Metric | 2027 Target | 2030 Target |
|---|---|---|
| Oil Production | 2 million bpd | 3 million bpd |
| Gas Production | 8 bcf/day | 10 bcf/day |
| Refining Capacity | 200,000 bpd | 500,000 bpd |
Profiles of New Leadership
Ahmadu Musa Kida – Chairman
The new NNPC chairman is a civil engineering graduate from Ahmadu Bello University with extensive experience at Total. He previously served as NBBF president and brings sports leadership experience to the role.
Bashir Bayo Ojulari – Group CEO
Ojulari recently led a $2.4 billion acquisition of Shell’s Nigerian assets. The mechanical engineer has worked across three continents for major oil firms including Shell where he rose to MD of SNEPCO.
Transition and Acknowledgments
President Tinubu thanked the outgoing board for their service, particularly noting their work in rehabilitating the Port Harcourt and Warri refineries to resume production after years of inactivity.
The appointments take immediate effect as Nigeria seeks to attract $60 billion in oil sector investments by 2030 under the administration’s reform agenda.
“`