President Tinubu Sacks Mele Kyari, Reshuffles NNPC Board

President Bola Tinubu has announced the removal of Pius Akinyelure, Chairman of the Nigerian National Petroleum Company (NNPC) Limited, and Mele Kyari, the Group Chief Executive Officer. In their place, Engineer Bashir Ojulari has been appointed as the new CEO, while Ahmadu Musa Kida takes over as the non-executive chairman.

The announcement, made early Wednesday morning by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, also confirmed the removal of all other board members appointed alongside Akinyelure and Kyari in November 2023. The reconstituted 11-man board features a mix of experienced professionals, including industry veterans and representatives from Nigeria’s geopolitical zones.

Ojulari, a seasoned oil industry executive, was previously the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. He has held significant roles at Shell Petroleum Development Company (SPDC) and has been involved in key industry initiatives. Kida, the new non-executive chairman, has extensive experience in the oil sector, including serving as Deputy Managing Director at Total Nigeria.

The new board’s mandate includes improving NNPC’s operational efficiency, enhancing investor confidence, and accelerating gas commercialization. President Tinubu emphasized the importance of the restructuring in boosting Nigeria’s oil and gas production, aiming for an increase to two million barrels per day by 2027 and three million by 2030. Gas production is also set to rise, with targets of 8 billion cubic feet per day by 2027 and 10 billion by 2030.

The reshuffle is part of broader oil sector reforms under the Tinubu administration, which has already secured $17 billion in new investments. The government plans to increase this investment to $30 billion by 2027 and $60 billion by 2030.

President Tinubu commended the outgoing board for their efforts in rehabilitating the Port Harcourt and Warri refineries, which have resumed production of petroleum products after prolonged shutdowns.

The new appointments take effect immediately.