Tinubu Reconstitutes NNPC Board, Appoints New Leadership

Abuja, April 2, 2025 – President Bola Ahmed Tinubu has overhauled the leadership of the Nigerian National Petroleum Company (NNPC) Limited, appointing a new board and top executives to drive reforms in the oil and gas sector.

In a sweeping move, Tinubu removed the board chairman, Chief Pius Akinyelure, and the Group Chief Executive Officer (GCEO), Mallam Mele Kolo Kyari, along with other board members appointed in November 2023.

The reconstituted 11-member board now has Ahmadu Musa Kida as its non-executive chairman and Engineer Bashir Bayo Ojulari as the new Group CEO. Adedapo Segun, who was appointed as Chief Financial Officer in November last year, retains his position on the new board.

Representing Nigeria’s six geopolitical zones as non-executive directors are:

Bello Rabiu (North West)
Yusuf Usman (North East)
Babs Omotowa (North Central)
Austin Avuru (South South)
David Ige (South West)
Henry Obih (South East)

Additionally, Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, and Aminu Said Ahmed, representing the Ministry of Petroleum Resources, have been appointed to the board.

Tinubu’s Vision for NNPC’s Future

President Tinubu, exercising his powers under Section 59(2) of the Petroleum Industry Act (2021), stated that the restructuring aims to enhance operational efficiency, attract investment, and boost local content development. He also emphasized the need to advance gas commercialization and energy diversification.

The new board has been tasked with conducting a strategic portfolio review of NNPC’s joint venture assets to ensure alignment with value-maximization objectives.

Since assuming office in 2023, Tinubu’s administration has pursued oil sector reforms to attract foreign investment. Last year, NNPC reported $17 billion in new investments. The government now aims to raise this figure to $30 billion by 2027 and $60 billion by 2030.

In line with this, the administration targets increasing oil production to 2 million barrels per day (bpd) by 2027 and 3 million bpd by 2030. Gas production is also expected to rise to 8 billion cubic feet per day (bcfd) by 2027 and 10 bcfd by 2030.

Additionally, President Tinubu expects NNPC’s crude oil refining capacity to grow from 200,000 barrels per day by 2027 to 500,000 bpd by 2030.

Profiles of the New Leaders

Ahmadu Musa Kida, the new NNPC board chairman, hails from Borno State and holds a civil engineering degree from Ahmadu Bello University, Zaria (1984). He later obtained a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP) in Paris.

Kida started his oil industry career with Elf Petroleum Nigeria before joining Total Exploration and Production in 1985. He rose to become Deputy Managing Director of Deep Water Services at Total Nigeria in 2015 and, in 2024, an Independent Non-Executive Director at Pan Ocean-Newcross Group.

Aside from his oil industry expertise, Kida is a former basketball player and the current president of the Nigerian Basketball Federation (NBBF).

Bashir Bayo Ojulari, the new Group CEO, hails from Kwara State. He was previously the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. His company recently led the $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC).

Ojulari, a mechanical engineering graduate from Ahmadu Bello University, Zaria, started his career at Elf Aquitaine as Nigeria’s first process engineer. He later joined Shell Petroleum Development Company of Nigeria in 1991, where he held various leadership roles across Europe and the Middle East. In 2015, he became Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO).

He is also a fellow of the Nigerian Society of Engineers and has served as chairman of the Society of Petroleum Engineers (SPE Nigerian Council).

Tinubu Appreciates Outgoing Board Members

President Tinubu expressed gratitude to the outgoing board members for their contributions, particularly their efforts in revamping the Port Harcourt and Warri refineries, which have resumed production after years of inactivity.

The new appointments take effect immediately.

Tinubu Reconstitutes NNPC Board, Appoints New Leadership