President Bola Tinubu has reconstituted the board of the Nigerian National Petroleum Company Limited (NNPC), removing both Chairman Pius Akinyelure and Group Chief Executive Officer Mele Kyari.
Announced in the early hours of Wednesday by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, the reshuffle includes the appointment of Bashir Bayo Ojulari as the new Group Chief Executive Officer (GCEO), effective April 2, 2025. Ahmadu Musa Kida has been named as the non-executive chairman of the board.
“All other board members appointed alongside Akinyelure and Kyari in November 2023 have also been removed,” Onanuga stated, emphasizing that the overhaul was aimed at revitalizing the corporation.
The newly constituted 11-member board now includes Adedapo Segun, who previously replaced Umaru Ajiya as Chief Financial Officer in November, as well as six non-executive directors representing Nigeria’s geopolitical zones.
The non-executive directors are:
Bello Rabiu (North West)
Yusuf Usman (North East)
Babs Omotowa, former MD of Nigeria Liquefied Natural Gas (North Central)
Industry analysts speculate that the restructuring could lead to policy shifts in the management of Nigeria’s petroleum resources, as the new leadership takes charge of the country’s most strategic corporation.
