{"id":5440,"date":"2025-04-02T07:10:24","date_gmt":"2025-04-02T07:10:24","guid":{"rendered":"https:\/\/panoramanews.com.ng\/?p=5440"},"modified":"2025-04-02T07:14:02","modified_gmt":"2025-04-02T07:14:02","slug":"tinubu-reconstitutes-nnpcl-board-sacks-mele-kyari-akinnyelure","status":"publish","type":"post","link":"https:\/\/panoramanews.com.ng\/index.php\/2025\/04\/02\/tinubu-reconstitutes-nnpcl-board-sacks-mele-kyari-akinnyelure\/","title":{"rendered":"Tinubu reconstitutes NNPCL board, sacks, Mele Kyari, Akinnyelure"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-5441\" src=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2025\/04\/download-2-1-1-300x188.jpeg\" alt=\"\" width=\"300\" height=\"188\" srcset=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2025\/04\/download-2-1-1-300x188.jpeg 300w, https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2025\/04\/download-2-1-1.jpeg 332w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>Kyari<\/p>\n<p>By Publisher<\/p>\n<p>Kindly share:<\/p>\n<div dir=\"auto\">\n<div dir=\"auto\">President Bola Tinubu has removed the chairman, Nigerian National Petroleum Company Limited board,<\/div>\n<div dir=\"auto\">Pius Akinyelure,\u00a0 and the Group Chief Executive Officer, Mele Kyari.<\/div>\n<div dir=\"auto\">Tinubu also appointed appointed Bashir Ojulari as Kyari&#8217;s replacement with immediate effect.Bayo Onanuga, Tinubu\u2019s Special Adviser on Information and Strategy, announced the\u00a0development in a statement he signed in the early hours of Wednesday.<\/p>\n<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\n<p>\u201cPresident Tinubu removed all other board members appointed with Akinyelure and Kyari in November 2023,&#8221; the statement, titled, \u2018President Tinubu reconstitutes NNPC limited board, appoints new Chairman, Group CEO&#8217;, read.<\/p>\n<p>\u201cThe new 11-man board has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman.\u201d<\/p>\n<p>The reconstitution saw Adedapo Segun, who replaced Umaru Ajiya as the chief financial officer last November, being appointed to the new board.<\/p>\n<p>Six board members, non-executive directors, represent the country\u2019s geopolitical zones, including\u00a0Bello Rabiu (North West); Yusuf Usman (North East); and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas, (North Central).<\/p>\n<p>\u201cPresident Tinubu also appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.<\/p>\n<p>\u201cMrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Ahmed will represent the Ministry of Petroleum Resources,\u201d the statement further read.<\/p>\n<p>In making the changes,Tinubu relied on the powers granted under Section 59, subsection 2 of the Petroleum Industry Act, 2021, emphasised that the board\u2019s restructuring is crucial for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialisation and diversification.<\/p>\n<p>Furthermore , the president mandated the new board to immediately \u201cconduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives.\u201d<\/p>\n<p>\u201cThe administration now envisions increasing the investment to $30bn by 2027 and $60bn by 2030,&#8221; Onanuga said.<\/p>\n<p>\u201cThe Tinubu administration targets raising oil production to two million barrels daily by 2027 and three million daily by 2030.<\/p>\n<p>\u201cConcurrently, the government wants gas production jacked to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030,\u201d he explained.<\/p>\n<p>Onanuga added that the president expects the new board to \u201celevate NNPC\u2019s share of crude oil refining output to 200,000 barrels by 2027 and reach 500,000 by 2030.\u201d<\/p>\n<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\n<p>\u201cPresident Tinubu thanked the old board members for their dedicated service to NNPC Limited, particularly their efforts in rehabilitating the old Port Harcourt and Warri refineries, which enabled them to resume petroleum product production after prolonged shutdowns.<\/p>\n<p>\u201cHe wished them well in their future endeavours,\u201d the statement concluded.<\/p>\n<\/div>\n<p>The new board chairman, Ahmadu Kida, is from Borno State. He is an alumnus of Ahmadu Bello University, Zaria, where he received a degree in civil engineering in 1984.<\/p>\n<p>Kida also obtained a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol in Paris.<\/p>\n<p>He began his career in the oil industry at Elf Petroleum Nigeria and later joined Total Exploration and Production as a trainee engineer in 1985.<\/p>\n<p>Musa became Total Nigeria\u2019s Deputy Managing Director of Deep Water Services in 2015.<\/p>\n<p>In 2024, he became an Independent Non-Executive Director at Pan Ocean-Newcross Group.<\/p>\n<p>The Presidency stated that apart from his oil industry career, Ahmadu Kida is a former basketballer and the President of the Nigerian Basketball Federation board.<\/p>\n<p>Meanwhile, the new NNPC Limited Group CEO, Ojulari, hails from Kwara State.<\/p>\n<p>Until his new appointment, He was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company.<\/p>\n<p>His Renaissance recently led a consortium of indigenous energy firms in the landmark acquisition of the entire equity holding in the Shell Petroleum Development Company of Nigeria, worth $2.4bn.<\/p>\n<p>Like Kida, Ojulari is also an alumnus of Ahmadu Bello University, Zaria, having graduated with a degree in Mechanical Engineering.<\/p>\n<p>He worked for Elf Aquitaine as the first Nigerian process engineer to begin a stellar career in the oil sector.<\/p>\n<p>From Elf, Ojulari joined Shell Petroleum Development Company of Nigeria Ltd in 1991 as an associate production technologist.<\/p>\n<p>Apart from working in Nigeria, he worked in Europe and the Middle East in different capacities as a petroleum process and production engineer, strategic planner, field developer, and asset manager.<\/p>\n<p>In 2015, Ojulari became the managing director of Shell Nigeria Exploration and Production Company.<\/p>\n<p>During his career, he was chairman and member of the board of trustees of the Society of Petroleum Engineers (SPE Nigerian Council) and a fellow of the Nigerian Society of Engineers<\/p>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Kyari By Publisher Kindly share: President Bola Tinubu has removed the chairman, Nigerian National Petroleum Company Limited board, Pius Akinyelure,\u00a0&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[359],"class_list":["post-5440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","tag-nigerian-national-petroleum-company-nnpc-limited"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - 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