President Bola Tinubu has dismissed Mele Kyari, the Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited (NNPCL), and dissolved its board, removing Chairman Pius Akinyelure.
The announcement was made on Wednesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
Tinubu Cites Need for Operational Efficiency & Investor Confidence
According to Onanuga, the president exercised his authority under Section 59(2) of the Petroleum Industry Act (PIA) 2021 to restructure the NNPCL. The move, he stated, aims to improve operational efficiency, restore investor confidence, and enhance the company’s commercial viability.
New 11-Member NNPCL Board Appointed
President Tinubu has approved a new 11-member board for the NNPCL, with Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as the non-executive chairman.
Additionally, Adedapo Segun, who replaced Umaru Isa Ajiya as Chief Financial Officer (CFO) in November, has been retained and appointed to the new board.
The six non-executive directors, representing Nigeria’s geopolitical zones, are:
- Bello Rabiu (North West)
- Yusuf Usman (North East)
- Babs Omotowa (North Central) – former MD 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, will represent the ministry on the board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
Appointments Take Immediate Effect
Onanuga confirmed that all appointments are effective immediately, from April 2.