President Bola Tinubu has dismissed the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, and dissolved the company’s board, including its chairman, Chief Pius Akinyelure.
The announcement was made on Wednesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
According to Onanuga, Tinubu exercised his powers under Section 59(2) of the Petroleum Industry Act (PIA) 2021 to restructure the NNPCL, aiming to enhance operational efficiency, restore investor confidence, and strengthen the company’s commercial viability.
As part of the sweeping changes, the President approved a new 11-member board with Engineer Bashir Bayo Ojulari as the new Group CEO and Ahmadu Musa Kida as the non-executive chairman.
The newly appointed board members include Adedapo Segun, who has been retained as Chief Financial Officer (CFO), and six non-executive directors representing Nigeria’s geopolitical zones which include, Bello Rabiu (North West), Yusuf Usman (North East), Babs Omotowa (North Central, former MD of Nigeria LNG), Austin Avuru (South-South), David Ige (South West) and Henry Obih (South East).
Additionally, Mrs Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, will represent the ministry on the board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
The appointments take effect immediately from April 2, 2025.
