By Amofokhai Williams
In a bold and sweeping move, President Bola Ahmed Tinubu has overhauled the Nigerian National Petroleum Company (NNPC) Limited, unseating the controversial Chairman, Chief Pius Akinyelure, and the long-serving Group CEO, Mallam Mele Kolo Kyari, along with their entire team.
This dramatic shake-up signals the start of a new era for the state-owned oil giant, with Tinubu ushering in a fresh 11-man board, ready to take NNPC to greater heights.
The shake-up comes as President Tinubu seeks to revitalise the oil sector, restoring the corporation’s struggling fortunes and transforming its operations.
Engineer Bashir Bayo Ojulari steps into the colossal shoes of Group CEO, while Ahmadu Musa Kida, a seasoned oil industry veteran, takes the helm as non-executive chairman. Their appointments, announced today, send a powerful message to the energy sector and beyond: change is here, and it’s here to stay.
But this isn’t just about fresh faces. The reconstituted board is a strategic powerhouse, handpicked to represent Nigeria’s diverse geopolitical zones.
Among them are seasoned professionals like Babs Omotowa, former MD of the Nigerian Liquified Natural Gas (NLNG), and Austin Avuru, a stalwart of the South-South oil region. The board also boasts influential figures like Mrs. Lydia Shehu Jafiya, the permanent secretary of the Federal Ministry of Finance, ensuring the ministry’s close oversight of NNPC operations.
The president’s decision comes at a critical juncture. With oil production declining, President Tinubu is determined to see the NNPC return to its former glory.
A statement issued by presidential spokesman, Bayo Onanuga early Wednesday said under his vision, the corporation will embark on an aggressive drive to ramp up oil production to two million barrels per day by 2027, with a bold target of three million by 2030. Gas production will be another priority, with ambitious plans to scale output to 8 billion cubic feet daily by 2027 and 10 billion by 2030.
But it doesn’t stop there. Tinubu is setting his sights on refining, expecting NNPC to hit a daily refining target of 200,000 barrels by 2027 and half a million by 2030. The new board is tasked with executing an urgent action plan to reshape NNPC’s asset portfolio and unlock value, driving Nigeria’s energy agenda forward.
The man leading the charge is Ahmadu Musa Kida, a seasoned executive with decades of experience at the helm of major oil companies, including Total Nigeria. Kida, an engineer with a postgraduate diploma in petroleum engineering from the prestigious Institut Francaise du Petrol, brings not only technical expertise but also leadership experience, having served as the president of the Nigerian Basketball Federation. He is poised to steer NNPC toward a future of profitability and innovation.
Meanwhile, Ojulari, the new Group CEO, arrives with an impressive track record. A mechanical engineering graduate from Ahmadu Bello University, Zaria, Ojulari made his mark with Renaissance Africa Energy Company, where he led a groundbreaking $2.4 billion acquisition of Shell Petroleum Development Company’s entire equity stake in Nigeria. His leadership is expected to drive NNPC toward operational excellence and unlock unprecedented opportunities in Nigeria’s energy sector.
While the president’s decision to overhaul the board is set to redefine the future of NNPC, the former leaders, including Akinyelure and Kyari, have been thanked for their contributions, especially their role in reviving the long-dead Port Harcourt and Warri refineries. Yet, as the dust settles on this bold reshuffle, it is clear: Tinubu has placed his trust in a team that is ready to elevate NNPC to new heights—and this is just the beginning.
The future of Nigeria’s oil industry is now in the hands of these power players, and they are charged with nothing short of transforming NNPC into a global energy giant. The countdown to change has begun.
