• About Us
  • Privacy Policy
  • Contact Us
  • Advertise With Us
  • Home
Metrowatchonline
Sunday, June 1, 2025
  • Home
  • News
  • Security
  • World
No Result
View All Result
  • Home
  • News
  • Security
  • World
No Result
View All Result
Metrowatchonline
No Result
View All Result
Home Business

Tinubu Dissolves NNPC Board, Replaces Kyari as GCEO with Ojulari, Names Kida as New Non-executive Chairman

The sweeping changes, effective April 2, 2025, were announced in a statement signed by Special Adviser to the President on Information and Strategy, Bayo Onanuga.

Emmanuel Babs by Emmanuel Babs
April 2, 2025
in Business, Highlights, Top News
0
Tinubu Dissolves NNPC Board, Replaces Kyari as GCEO with Ojulari, Names Kida as New Non-executive Chairman

President Bola Tinubu in a bold move to reshape Nigeria’s oil and gas sector as well as restore investor confidence in a more commercially viable entity,
has dissolved the board of the Nigerian National Petroleum Company (NNPC) Limited, removing its chairman, Chief Pius Akinyelure, and Group Chief Executive Officer (GCEO), Mallam Mele Kolo Kyari.

The sweeping changes, effective April 2, 2025, were announced in a statement signed by Special Adviser to the President on Information and Strategy, Bayo Onanuga.

President Tinubu cited the need for enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPC as the driving forces behind the decision.

Invoking his powers under Section 59(2) of the Petroleum Industry Act (PIA) 2021, he reconstituted the board with new leadership aimed at repositioning NNPC Limited for greater productivity and alignment with global best practices.

ALSO READ...

NDLEA Busts Syndicate Sponsoring Pilgrims with Cocaine to Hajj, Arrests 3 Kingpins in Kano

God is Your Real Husband  — DJ Cuppy encourages single ladies over 30 not to lose hope

He appointed Ahmadu Kida as the new non-executive chairman of NNPC Limited. Kida, an oil industry veteran with extensive experience at Elf Petroleum and Total Exploration and Production, previously served as Deputy Managing Director of Deep Water Services at Total Nigeria. He also held a position as an Independent Non-Executive Director at Pan Ocean-Newcross Group. Beyond his oil industry career, Kida is known for his tenure as president of the Nigerian Basketball Federation.

Replacing Kyari as GCEO is Bashir Ojulari, a seasoned executive in Nigeria’s oil and gas sector. Ojulari’s career spans roles at Shell Petroleum Development Company of Nigeria and Renaissance Africa Energy Company. Notably, he led a consortium of indigenous energy firms in acquiring Shell’s equity holdings in Nigeria for $2.4 billion. His expertise includes petroleum engineering and strategic planning across Europe, the Middle East, and Nigeria.

The newly constituted 11-member board includes Adedapo Segun as Chief Financial Officer alongside six non-executive directors representing Nigeria’s geopolitical zones: Bello Rabiu (North West), Yusuf Usman (North East), Babs Omotowa (North Central), Austin Avuru (South-South), David Ige (South West), and Henry Obih (South East). Mrs. Lydia Shehu Jafiya from the Federal Ministry of Finance and Aminu Said Ahmed from the Ministry of Petroleum Resources will also serve on the board.
President Tinubu also  set ambitious targets for the oil sector under his administration’s reforms.

By 2027, it aims to increase oil production to two million barrels per day and gas production to eight billion cubic feet daily. By 2030, these f
igures are expected to rise to three million barrels and ten billion cubic feet daily, respectively.
Additionally, NNPC’s crude oil refining capacity is projected to reach 200,000 barrels per day by 2027 and 500,000 barrels daily by 2030. President Tinubu envisioned attracting $30 billion in investments by 2027 and $60 billion by 2030.

To achieve these goals, Tinubu directed the new board to conduct a strategic portfolio review of NNPC-operated and joint venture assets to align operations with value maximization objectives. The restructuring also seeks to boost local content development and accelerate gas commercialization to diversify Nigeria’s energy resources.

President Tinubu expressed gratitude to outgoing board members for their service, particularly their efforts in rehabilitating refineries such as Port Harcourt and Warri. He wished them success in their future endeavors as his administration moves forward with its vision for a transformed oil and gas sector.

Tags: Bola TinubuMele Kyari
Previous Post

President Tinubu Congratulates Jim Ovia on Admission to Freedom of The City of London

Next Post

BREAKING | Edo Tribunal Dismisses Petition against Gov Okpebholo, APC

Emmanuel Babs

Emmanuel Babs

Related Posts

Reno Omokri

I’m Loyal to Tinubu, Says Reno Omokri

June 1, 2025
Tinubu

Kano Sports Contingent Accident Devastating, Says Tinubu

June 1, 2025
Lookman

Lookman Presents CAF POTY Award to Tinubu in Lagos

May 31, 2025
Tinubu Set to Inaugurate Lagos-Calabar Coastal Highway, Other Landmark Projects

Tinubu Set to Inaugurate Lagos-Calabar Coastal Highway, Other Landmark Projects

May 31, 2025
Fubara

Democracy Will Soon Return to Rivers, Says Fubara

May 29, 2025
Tinubu

FULL TEXT: President Tinubu’s Speech on 2nd Year Anniversary of His Administration

May 29, 2025
Next Post
Gov Okpebholo Proposes N605Bn as 2025 Appropriation Bill to Edo State Assembly

BREAKING | Edo Tribunal Dismisses Petition against Gov Okpebholo, APC

  • About Us
  • Privacy Policy
  • Contact Us
  • Advertise With Us
  • Home

© 2024 Metrowatch Online Published by Miraculous Media Connect Limited. All rights reserved

No Result
View All Result
  • Home
  • News
  • Security
  • World

© 2024 Metrowatch Online Published by Miraculous Media Connect Limited. All rights reserved

Go to mobile version