Lagos — President Bola Tinubu has dismissed the entire board of the Nigerian National Petroleum Corporation (NNPC), which includes both the Group Chief Executive Officer, Mele Kyari, and the chairperson, Pius Akinyelure.
The choice, which will take effect on April 2, 2025, was disclosed in an announcement from presidential spokesman Bayo Onanuga. The statement indicated that the President based his decision on improving operational effectiveness, revitalizing investor trust, and fostering a more economically feasible NNPC.
Utilizing his authority granted by Section 59(2) of the Petroleum Industry Act (PIA) 2021, the President revamped the board with fresh leadership designed to steer NNPC Limited towards enhanced efficiency and in line with international best standards.
Kyari was initially chosen as the NNPC head by ex-President Muhammadu Buhari and was later reinstated in 2023 by President Tinubu.
In the restructuring, Bayo Ojulari assumes the role of group CEO from Kyari, with Ahmadu Musa Kida now serving as the non-executive chairman of NNPC, taking over from Pius Akinyelure. Additionally, Adedapo Segun has been officially named as the company’s chief financial officer (CFO).
As per the PIA guidelines, the president additionally appointed six non-executive directors, one from each geopolitical zone.
They consist of Bello Rabiu representing the northwest, Yusuf Usman from the northeast, and Babs Omotowa, who previously served as the managing director of Nigerian Liquefied Natural Gas (NLNG), for the north-central region.
Others include Austin Avuru for the south-south region, David Ige for the south-west, and Henry Obih for the south-east.
In the meantime, Lydia Shehu Jafiya, who serves as the permanent secretary at the federal Ministry of Finance, along with Aminu Said Ahmed from the Ministry of Petroleum Resources, will both be representing their respective departments on the newly formed board.
