By Kingston Magare 2/4/2025
President Bola Tinubu after one year in office has finally shown Mele Kyari the exit door at the Nigerian National Petroleum Company (NNPC) Limited. Bayo Ojulari will take his place as the group chief executive officer (CEO).
Despite allegations of corruption and mismanagement at the NNPCL, Tinubu had retained Kyari who was appointed by former President Muhammadu Buhari. Kyari due to vested interest perhaps had been a clog to local refineries making products available.
Presidential adviser on information and strategy, Bayo Onanugu said Wednesday in a statement, that Kyari and the board of the NNPCL have to make way for “enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPCL.”
“This restructuring is aimed at repositioning NNPC Limited for greater productivity and efficiency in line with global best practices. We are taking bold steps to transform the company into a more commercially driven and transparent entity,” the statement reads.
The changes take effect immediately, and the new board has been handed a strategic action plan, which includes a “review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives.”
According to the statement by Mr. Onanuga the new dispensation is expected to drive up reforms and boost oil production
New NNPCL board:
Chairman: Musa Kida
Group CEO: Bayo Ojulari
Board members: Bello Rabiu north-west, Yusuf Usman north-east, and Babs Omotowa north-central, Austin Avuru south-south, David Ige south-west, and Henry Obih south-east.
FG reps: Lydia Shehu Jafiya, the permanent secretary of the federal ministry of finance, Aminu Said Ahmed ministry of petroleum resources.
Ojulari...in, Kyari...out