President Bola Ahmed Tinubu has reconstituted the Nigerian National Petroleum Company (NNPC) Limited board, removing the chairman, Chief Pius Akinyelure, and the group chief executive officer, Mallam Mele Kolo Kyari, along with other board members appointed in November 2023 ¹.
The new 11-man board features Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman. Other appointees include Adedapo Segun, Bello Rabiu, Yusuf Usman, Babs Omotowa, Austin Avuru, David Ige, Henry Obih, Mrs Lydia Shehu Jafiya, and Aminu Said Ahmed ¹.
These appointments take effect immediately, and President Tinubu has tasked the new board with conducting a strategic portfolio review to ensure alignment with value maximization objectives ¹.
The Tinubu administration aims to increase investment in the oil sector to $30 billion by 2027 and $60 billion by 2030, raise oil production to two million barrels daily by 2027, and elevate NNPC’s share of crude oil refining output to 200,000 barrels by 2027 ¹.
