Several other senior officials of the national oil company were also relieved of their duties. Among them is Bala Wunti, former head of the National Petroleum Investment Management Services (NAPIMS), a key NNPCL subsidiary. Additionally, many personnel with less than one year to retirement were asked to exit the company.
Although NNPCL’s spokesperson, Olufemi Soneye, did not respond to media inquiries, multiple reliable sources within the organisation confirmed the development to Dip Connect Online News.
The restructuring comes on the heels of a major leadership overhaul initiated by President Bola Tinubu on April 2, 2025. In a surprise move, Tinubu dismissed former NNPCL Group CEO Mele Kyari and the company’s board members as part of broader efforts to reform Nigeria’s oil and gas sector. Kyari had led NNPCL since 2019.
Presidency sources explained that Kyari and his team were removed due to underperformance and failure to meet critical production targets. “The President made this move based on performance. The previous team was going in circles and had become part of the problem,” one official told Dip Connect. “We needed new leadership with energy and focus. This time, the appointees are core industry professionals, not politicians.”
Another source added, “It’s not about Kyari’s age. NNPCL is now a limited liability company, not governed by civil service rules. The President gave the new team specific metrics—3 million barrels per day by 2030 and 2 million by 2027, as well as 10 billion cubic meters of gas by 2030. The previous management wasn't delivering. We’ve had the same OPEC quota challenges since 1973.”
In a midnight statement from the presidency, Tinubu announced a new 11-member board for NNPCL, appointing Bayo Ojulari as Group CEO and Musa Ahmadu-Kida as non-executive chairman.
Ojulari, from Kwara State, was previously Executive Vice President and COO at Renaissance Africa Energy Company. His firm recently led a $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria through a consortium of indigenous firms.
Speaking on the refinery leadership purge, a top NNPCL source said, “The MDs of the Port Harcourt, Warri, and Kaduna refineries have all been removed, along with other senior managers.” Another official confirmed Bala Wunti’s removal and noted that Maryam Idrisu has now been appointed as Managing Director of NNPC Trading, which oversees all crude oil transactions.
Soneye has yet to offer official confirmation, as messages sent to his WhatsApp went unanswered. However, it is widely believed that continued underperformance of the refineries prompted the dismissals.
On Tuesday, Dip Connect Online News reported exclusively on the failure of the $897 million Warri refinery revamp. Investigations revealed that the Port Harcourt refinery, which resumed operations in November 2024, has been operating at below 40% capacity.
Experts have expressed concern about NNPCL’s handling of the refineries, citing transparency, inefficiency, and poor performance. The Warri refinery, reportedly shut down since January 25, 2025, due to safety issues in its Crude Distillation Unit Main Heater, had yet to produce Premium Motor Spirit (PMS) despite massive investments.
An April 2025 report from the Nigerian Midstream and Downstream Petroleum Regulatory Authority confirmed the $897.6 million spent on Warri refinery maintenance yielded no output. Meanwhile, the Port Harcourt refinery has struggled to achieve meaningful production months after being declared operational by Kyari.
Industry stakeholders have described the situation as deeply disappointing, reinforcing the need for urgent reforms and competent leadership to reposition Nigeria’s oil sector.
ADEOLA KUNLE
