NNPCL Restructures Leadership, Announces New Executives Amid Sweeping Reforms
In a continued effort to reposition the Nigerian National Petroleum Company Limited (NNPCL) for greater efficiency and investor confidence, the company is set to announce new executive appointments today, THEWILL has exclusively gathered.
The fresh appointments are expected to be formalized during the inaugural meeting of the newly constituted NNPCL Board scheduled for today, following a major shakeup ordered by President Bola Tinubu earlier this week.
As part of the reorganisation process, NNPCL will name a new Group Chief Operating Officer (GCOO), a General Counsel/Company Secretary, and two new Executive Vice Presidents (EVPs) to replace the current heads of Downstream and Business Services. However, the current EVPs for Upstream and Gas & New Energy will retain their positions, authoritative sources close to the development confirmed.
On Wednesday, President Tinubu relieved Mele Kyari of his duties as Group Chief Executive Officer and dissolved the board led by Chief Pius Akinyelure. The president then announced a new 11-member board in a move widely applauded by industry experts and economic analysts as a strategic step to revitalise Nigeria’s oil and gas sector.
The new board is chaired by Ahmadu Musa Kida, a former executive at Total Nigeria, while Bashir Bayo Ojulari, a seasoned oil industry professional and Executive Vice President of Renaissance Africa Energy Company, was appointed as the new Group CEO. Ojulari recently led the $2.4 billion acquisition of Shell Petroleum Development Company’s onshore assets.
Other key board members include:
- Adedapo Segun – Chief Financial Officer
- Bello Rabiu – Non-Executive Director (North West)
- Yusuf Usman – Non-Executive Director (North East)
- Babs Omotowa – Non-Executive Director (North Central)
- Austin Avuru – Non-Executive Director (South-South)
- David Ige – Non-Executive Director (South West)
- Henry Obih – Non-Executive Director (South East)
- Lydia Shehu Jafiya – Representative, Federal Ministry of Finance
- Aminu Said Ahmed – Representative, Ministry of Petroleum Resources
All appointments take effect immediately.
According to a statement issued by presidential spokesperson Bayo Onanuga, the new leadership is expected to restore investor confidence, drive energy diversification, and reposition the NNPCL for global competitiveness.
The Tinubu administration has set ambitious performance targets for the company:
- Raise daily oil production to 2 million barrels by 2027 and 3 million barrels by 2030
- Increase gas output to 8 billion cubic feet daily by 2027 and 10 billion by 2030
- Expand local refining capacity to 200,000 barrels per day by 2027 and 500,000 barrels by 2030
President Tinubu also directed the board to carry out a strategic portfolio review of NNPCL’s operated and joint venture assets to maximize national value and returns.
Today’s expected appointments mark a critical milestone in the unfolding transformation of Nigeria’s oil and gas industry.
