President Bola Tinubu has carried out a major shake-up in the Nigerian National Petroleum Company Limited (NNPCL), dismissing Group Chief Executive Officer (GCEO) Mallam Mele Kyari and Board Chairman Chief Pius Akinyelure, along with all other board members appointed in November 2023.

The changes were announced in a statement issued early Wednesday by presidential spokesperson Bayo Onanuga.

New NNPCL Leadership

The newly reconstituted 11-member board is led by:

  • Engr. Bashir Bayo Ojulari – Group Chief Executive Officer (GCEO)

  • Ahmadu Musa Kida – Non-Executive Chairman

  • Adedapo Segun – Chief Financial Officer

Other non-executive directors, representing Nigeria’s six geopolitical zones, include:

  • Bello Rabiu (North-West)

  • Yusuf Usman (North-East)

  • Babs Omotowa (North-Central) – Former MD, Nigerian Liquefied Natural Gas (NLNG)

  • Austin Avuru (South-South)

  • David Ige (South-West)

  • Henry Obih (South-East)

Additionally, Mrs. Lydia Shehu Jafiya, Permanent Secretary, Federal Ministry of Finance, and Aminu Said Ahmed, representing the Ministry of Petroleum Resources, will serve on the board.

Objectives of the Restructuring

Citing Section 59 (2) of the Petroleum Industry Act (PIA), 2021, President Tinubu emphasized that the restructuring aims to:


Improve operational efficiency
 Restore investor confidence
 Strengthen local content participation
Drive economic growth
 Accelerate gas commercialization and diversification

The new board has been tasked with immediately reviewing NNPCL’s asset portfolio to ensure alignment with value-maximization objectives.

Investment & Production Targets

  • Increase oil sector investment from $17 billion (2023) to $30 billion (2027) and $60 billion (2030)

  • Boost oil production to 2 million barrels/day (2027) and 3 million barrels/day (2030)

  • Expand gas production to 8 billion cubic feet/day (2027) and 10 billion cubic feet/day (2030)

  • Enhance NNPCL’s refining capacity to 200,000 barrels/day (2027) and 500,000 barrels/day (2030)

Profiles of Key Appointees

Ahmadu Musa Kida – Non-Executive Chairman

  • From Borno State

  • Holds a Civil Engineering degree from Ahmadu Bello University, Zaria (1984)

  • Earned a postgraduate diploma in Petroleum Engineering from Institut Français du Pétrole (IFP), Paris

  • Formerly with Elf Petroleum Nigeria, later joined Total Exploration and Production

  • Served as Deputy Managing Director, Deep Water Services, Total Nigeria (2015)

  • Former President, Nigerian Basketball Federation (NBBF)

Engr. Bashir Bayo Ojulari – Group CEO

  • From Kwara State

  • Studied Mechanical Engineering at Ahmadu Bello University, Zaria

  • Started his career at Elf Aquitaine before joining Shell Petroleum Development Company (SPDC) in 1991

  • Worked in Europe and the Middle East across production, asset management, and strategic planning

  • Became MD of Shell Nigeria Exploration and Production Company (SNEPCO) in 2015

  • Led the $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC) through Renaissance Africa Energy Company

  • A Fellow of the Nigerian Society of Engineers and former Board Trustee, Society of Petroleum Engineers (SPE Nigerian Council)

Acknowledgment of Outgoing Board

President Tinubu thanked the outgoing board members for their service, particularly for their contributions to the rehabilitation of the Port Harcourt and Warri refineries, which recently resumed production after extended shutdowns.

The new appointments are effective immediately from April 2, 2025.