President Bola Ahmed Tinubu has approved a major shake-up of the Nigerian National Petroleum Company Limited (NNPC Ltd.), reconstituting its board and appointing new leadership to steer the state-owned oil corporation towards greater efficiency and investment growth.
The restructuring sees the removal of Pius Akinyelure as Chairman and Mele Kyari as the Group Chief Executive Officer (GCEO), marking a significant shift in the management of Nigeria’s oil and gas sector.
New Leadership for NNPC Ltd.
President Tinubu has appointed:
Ahmadu Musa Kida as Chairman – A veteran in the energy sector, Kida previously held senior executive roles at TotalEnergies and served as President of the Nigeria Basketball Federation (NBBF).
Bashir Bayo Ojulari as Group Chief Executive Officer (GCEO) – A seasoned oil and gas professional, Ojulari had an extensive career at Shell, where he played a key role in the $2.4 billion acquisition of Shell Petroleum Development Company (SPDC) assets.
Strategic Vision and Sectoral Targets
The new leadership at NNPC Ltd. is expected to drive President Tinubu’s economic and energy sector reforms, focusing on four major targets:
✅ Oil Production – Raising crude output to 3 million barrels per day (bpd) by 2030.
✅ Gas Expansion – Boosting gas supply to 10 billion cubic feet per day (cf/d) by 2030.
✅ Refining Capacity – Increasing domestic refining output to 500,000 bpd by 2030.
✅ Investment Drive – Attracting $60 billion in oil and gas investments over the next six years.
Implications of the Shake-Up
This move aligns with Tinubu’s broader economic policies aimed at repositioning Nigeria’s oil and gas industry for global competitiveness. The shake-up also comes at a time when the country is pushing for increased crude production, energy security, and reduced dependence on fuel imports.
NNPC Ltd. has been undergoing structural changes since it transitioned into a commercial entity under the Petroleum Industry Act (PIA) 2021, with a mandate to operate as a profit-driven organization. The new leadership will now be tasked with strengthening corporate governance, improving operational efficiency, and attracting new investments into the sector.
More details on the restructuring are expected from the official statement released by Bayo Onanuga, the Special Adviser to the President on Information and Strategy.
