Tinubu Reshuffles NNPC Limited Leadership, Appoints Bashir Ojulari as CEO
In a major overhaul of the Nigerian National Petroleum Company Limited (NNPC), President Bola Tinubu has removed the company’s chairman, Pius Akinyelure, and Group Chief Executive Officer, Mele Kyari, along with all board members appointed in November 2023.
The restructuring comes as part of the administration’s push to enhance efficiency and boost investor confidence in Nigeria’s oil and gas sector.
New Leadership Announced
Following the shake-up, President Tinubu has appointed Bashir Ojulari as the new Group CEO, effective April 2, 2025. Ahmadu Musa Kida has been named the new non-executive chairman of NNPC Limited.
Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, announced the development in a statement on Wednesday, titled: “President Tinubu Reconstitutes NNPC Limited Board, Appoints New Chairman and Group CEO.”
The newly constituted 11-member board includes:
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, Ministry of Finance
Aminu Ahmed – Representative, Ministry of Petroleum Resources
Tinubu’s Strategic Vision for NNPC
President Tinubu exercised his authority under Section 59 (2) of the Petroleum Industry Act, 2021, emphasizing that the board’s reconstitution is aimed at:
✅ Improving operational efficiency
✅ Restoring investor confidence
✅ Promoting local content development
✅ Driving economic growth
✅ Expanding gas commercialisation and diversification
He has also directed the new board to conduct a strategic review of NNPC’s Joint Venture assets to ensure alignment with value-maximization objectives.
Oil Sector Reform and Future Targets
Since 2023, the Tinubu administration has pursued significant oil sector reforms, with NNPC reporting $17 billion in new investments in 2024. According to Onanuga, the administration aims to:
🔹 Increase investment to $30 billion by 2027 and $60 billion by 2030
🔹 Boost crude oil production to 2 million barrels per day by 2027 and 3 million by 2030
🔹 Expand gas production to 8 billion cubic feet per day by 2027 and 10 billion cubic feet by 2030
🔹 Raise NNPC’s share of crude oil refining to 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030
Profiles of the New Leaders
Ahmadu Musa Kida – NNPC Chairman
Kida, a native of Borno State, holds a civil engineering degree from Ahmadu Bello University, Zaria, and a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol, Paris.
He began his career at Elf Petroleum Nigeria before joining Total Exploration and Production in 1985, rising to become Deputy Managing Director of Total’s Deep Water Services in 2015. In 2024, he was appointed an Independent Non-Executive Director at Pan Ocean-Newcross Group.
Outside his oil industry career, Kida is a former professional basketball player and served as President of the Nigerian Basketball Federation.
Bashir Ojulari – NNPC Group CEO
Ojulari, from Kwara State, was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company before his appointment. His company led the $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria.
An Ahmadu Bello University graduate in Mechanical Engineering, Ojulari started his career at Elf Aquitaine before joining Shell Petroleum Development Company in 1991. He held multiple roles across Europe and the Middle East, working in petroleum process engineering, strategic planning, and asset management.
In 2015, he was appointed Managing Director of Shell Nigeria Exploration and Production Company. Ojulari has served as Chairman and Board Trustee of the Society of Petroleum Engineers (Nigeria Council) and is a Fellow of the Nigerian Society of Engineers.
Tinubu Commends Outgoing Board Members
President Tinubu thanked the outgoing board members for their service, particularly their efforts in reviving the Port Harcourt and Warri refineries, which resumed petroleum production after prolonged shutdowns.
“He wished them well in their future endeavors,” the statement concluded.
