Tinubu Appoints Bashir Bayo Ojulari As NNPC CEO, Restructures Board.
President Bola Tinubu has appointed Engineer Bashir Bayo Ojulari as the new Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, replacing Mele Kyari. The restructuring also includes the appointment of Ahmadu Musa Kida as the new non-executive chairman, replacing Chief Pius Akinyelure.
The announcement was made by presidential spokesman Bayo Onanuga, who confirmed that all board members appointed alongside Kyari and Akinyelure in November 2023 have been removed. The new 11-member board is expected to drive reforms aimed at increasing investment, improving oil and gas production, and enhancing operational efficiency.
Profile of the New NNPC CEO – Engineer Bashir Bayo Ojulari
Engineer Bashir Bayo Ojulari is a highly experienced oil and gas industry professional with extensive expertise in petroleum engineering, corporate leadership, and energy management. Before his appointment as NNPC Group CEO, he held senior positions in both the public and private sectors, contributing to upstream and downstream petroleum operations, gas commercialisation, and local content development.
He has a strong background in optimising oil and gas assets, improving operational efficiencies, and attracting foreign investments into Nigeria’s energy sector. His experience in joint venture operations, project execution, and regulatory compliance is expected to help transform NNPC under President Tinubu’s administration.
New NNPC Board Members
Alongside Ojulari’s appointment, President Tinubu has named Adedapo Segun as the Chief Financial Officer and appointed six non-executive directors representing Nigeria’s six geopolitical zones:
– Bello Rabiu (North West)
– Yusuf Usman (North East)
– Babs Omotowa (North Central, former Managing Director of NLNG)
– 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, representative of the Ministry of Petroleum Resources, will serve on the board.
Tinubu’s Vision for NNPC and the Oil Sector
President Tinubu invoked Section 59(2) of the Petroleum Industry Act (2021) to justify the board’s restructuring, stating that the new leadership will focus on improving operational efficiency, restoring investor confidence, boosting local content participation, driving economic growth, and advancing gas commercialisation and diversification.
Since 2023, the Tinubu administration has attracted 17 billion dollars in new oil investments and aims to increase this to 30 billion dollars by 2027 and 60 billion dollars by 2030. The government also plans to:
– Raise oil production to two million barrels per day by 2027 and three million barrels per day by 2030
– Increase gas production to eight billion cubic feet per day by 2027 and ten billion cubic feet per day by 2030
– Boost NNPC’s share of crude refining to 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030
As part of his immediate action plan, Tinubu has directed the new board to conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to maximise value and ensure sustainable growth in Nigeria’s oil and gas sector.
