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Tinubu Reshuffles NNPC Leadership, Dissolves Board…..
President Bola Ahmed Tinubu has taken a bold step in reshaping the Nigerian National Petroleum Company (NNPC) Limited by dissolving its board and removing its Group Chief Executive Officer, Mele Kyari. This marks a major shift in the leadership of Nigeria’s oil and gas sector.
Following Kyari’s removal, President Tinubu has appointed Engineer Bashir Bayo Ojulari as the new Group CEO of NNPC Limited. Ahmadu Musa Kida has also been named as the Non-Executive Chairman of the company.
Alongside Mele Kyari, all board members appointed in November 2023 have been relieved of their duties. Adedapo Segun replaces Umaru Isa Ajiya as Chief Financial Officer, while six non-executive directors from Nigeria’s geopolitical zones have been selected to serve.
President Tinubu has set ambitious targets for the new NNPC board. These include increasing oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030. Additionally, the administration aims to grow investments in the sector from $17 billion in 2024 to $60 billion by 2030.
As part of the government’s plan, NNPC is expected to enhance crude oil refining capacity, with a goal of refining 500,000 barrels per day by 2030. The new leadership will also focus on maximizing NNPC’s assets, boosting local content, and ensuring transparency in the oil and gas industry.
With these changes, all eyes will be on NNPC’s new management to deliver on these aggressive targets and contribute to Nigeria’s economic growth.
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