President Bola Tinubu’s decision to remove Mele Kyari and the Nigerian National Petroleum Company Limited (NNPCL) board stemmed from concerns over performance and failure to meet key production targets, officials have disclosed.
In a major shake-up on Wednesday, Tinubu dismissed Kyari, who had led the national oil company since 2019, as part of efforts to boost Nigeria’s crude and gas output.
“President Tinubu removed all board members appointed with Pius Akinyelure and Kyari in November 2023,” said Bayo Onanuga, Special Adviser on Information and Strategy, in a statement.
Bashir Ojulari has been appointed as the new Group CEO, effective April 2, 2025, with Musa Ahmadu-Kida as the non-executive chairman.
Officials familiar with the matter described the shake-up as a necessary step, arguing that the previous leadership had become ineffective. One anonymous official stated, “The President needed to change direction. The former team was not delivering results. This new leadership consists of core industry professionals, not politicians.”
Another official clarified that age was not a factor in Kyari’s removal, noting that the NNPCL, as a limited liability company, operates outside civil service rules. The President set clear performance targets for the new leadership, including:
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Stabilizing crude production at 2 million barrels per day by 2027 and reaching 3 million by 2030.
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Increasing gas production to 10 billion cubic meters by 2030.
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Conducting a strategic portfolio review to maximize asset value.
The administration also aims to increase sector investments from $17 billion in 2024 to $30 billion by 2027 and $60 billion by 2030. Additionally, the new board is tasked with raising NNPC’s crude refining capacity to 200,000 barrels per day by 2027 and 500,000 by 2030.
Other key appointments include Adedapo Segun as Chief Financial Officer and six non-executive directors representing Nigeria’s geopolitical zones:
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Bello Rabiu (North West)
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Yusuf Usman (North East)
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Babs Omotowa (North Central)
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Austin Avuru (South-South)
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David Ige (South West)
Henry Obih (South East)
Lydia Jafiya will represent the Ministry of Finance, while Aminu Said Ahmed represents the Ministry of Petroleum Resources.
Industry Reactions and Expectations
Stakeholders have urged the new leadership to revamp refineries, rebrand the NNPCL, restore investor confidence, and resolve the naira-for-crude deal dispute with the Dangote refinery.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) welcomed the changes, with spokesperson Chinedu Ukadike stating, “We expect the new leadership to ensure all government-owned refineries operate at full capacity.”
The Nigerian Association of Petroleum Explorationists (NAPE) called the appointments a bold step toward greater efficiency and profitability. Similarly, the Crude Oil Refinery Owners Association of Nigeria (CORAN) emphasized the need for energy security and domestic refining self-sufficiency.
Professor Emeritus Wumi Iledare expressed optimism, noting that this is the first time NNPC has a largely apolitical board. He urged the new leadership to address issues such as divesting joint venture shares, selling NNPCL shares to the public, and resolving the naira-for-crude dilemma.
Meanwhile, former GCEO Mele Kyari received a farewell message from NNPCL staff, recognizing his contributions, particularly in refinery rehabilitation.
Tompolo’s Endorsement
Tantita Security Services Chairman, Government Ekpemupolo (Tompolo), praised Tinubu’s selection of professionals for the board, stating that the appointments mark a pivotal moment for the oil and gas sector.
He reaffirmed his company’s commitment to supporting the NNPCL in protecting Nigeria’s oil assets, ensuring production increases, and meeting the administration’s refining targets.
With the new leadership in place, industry experts and stakeholders are hopeful for significant reforms that will drive efficiency and economic growth.
