President Bola Ahmed Tinubu has dismissed Mele Kyari as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL) and appointed Engr. Bashir Bayo Ojulari as his replacement. Ahmadu Musa Kida has also been named the new non-executive chairman of the board.

Additionally, Tinubu has sacked all board members appointed alongside Akinyelure and Kyari in November 2023. Adedapo Segun, who became Chief Financial Officer (CFO) last year, has been retained on the newly restructured board.

New Board Composition

The newly appointed board consists of 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)

Henry Obih (South East)

Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, will represent the ministry, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.

Objectives of the Restructured Board

President Tinubu emphasized that the restructuring aims to enhance operational efficiency, restore investor confidence, boost local content, drive economic growth, and advance gas commercialization and diversification.

The new board has been tasked with the following objectives:

Conduct a strategic portfolio review of NNPCL’s operated and joint venture assets to align with value maximization goals.

Increase oil sector investments from $17 billion (2023) to $30 billion by 2027 and $60 billion by 2030.

Raise daily oil production to 2 million barrels by 2027 and 3 million barrels by 2030.

Boost gas production to 8 billion cubic feet per day by 2027 and 10 billion cubic feet per day by 2030.

Expand NNPCL’s share of crude oil refining output to 200,000 barrels daily by 2027 and 500,000 barrels by 2030.

Profiles of Key Appointees

Ahmadu Musa Kida – New Board Chairman

Ahmadu Musa Kida, from Borno State, holds a degree in civil engineering from Ahmadu Bello University, Zaria, and a postgraduate diploma in petroleum engineering from the Institut Francais du Petrol (IFP) in Paris.

He began his oil industry career at Elf Petroleum Nigeria before joining Total Exploration and Production in 1985. In 2015, he became Deputy Managing Director of Deep Water Services at Total Nigeria. In 2023, he was appointed as an Independent Non-Executive Director at Pan Ocean-Newcross Group. Outside the oil industry, he served as president of the Nigerian Basketball Federation (NBBF).

Bashir Bayo Ojulari – New GCEO

Ojulari, from Kwara State, was formerly the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. He led the recent $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC) by a consortium of indigenous energy firms.

A mechanical engineering graduate from Ahmadu Bello University, Zaria, Ojulari started his career at Elf Aquitaine and later joined Shell Petroleum Development Company of Nigeria in 1991. He worked in various roles across Europe and the Middle East as a petroleum process and production engineer, strategic planner, field developer, and asset manager. In 2015, he was appointed Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO).

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

Acknowledgment of Outgoing Board Members

President Tinubu expressed gratitude to the outgoing board members for their service, particularly their contributions to rehabilitating the Port Harcourt and Warri refineries, which have resumed petroleum production after prolonged inactivity. He wished them success in their future endeavors.

The restructuring underscores Tinubu’s commitment to transforming Nigeria’s oil and gas sector, with ambitious goals for increased production and investment.

Imo State Governor, Hope Uzodimma, has expressed confidence in President Bola Tinubu’s ability to transform Nigeria, stating that millions of Nigerians share this belief. He further emphasized that if Tinubu cannot fix the country, many would see it as a loss of hope.

Speaking on Saturday at the President’s 73rd birthday celebration in Abuja, Uzodimma highlighted Tinubu’s bold economic decisions as a testament to his commitment to addressing Nigeria’s challenges.

“Only a leader with strong conviction and genuine love for the nation could have made such bold yet necessary decisions. These decisions have averted economic collapse and are now restoring hope and confidence across the country,” Uzodimma stated.

He reiterated his stance, saying, “As I have said before, and I emphasize again tonight, millions of Nigerians believe that if you cannot fix this country, then all hope is lost. I am pleased to confirm that you have not let us down. Through your purposeful and transformative leadership, Nigeria is back on track and progressing with renewed determination toward a brighter future.”

Uzodimma credited Tinubu with reigniting the Nigerian spirit of ingenuity and resilience, restoring faith in the nation, and securing his place in history through bold reforms and dedicated service. He extended his best wishes to the President, praying for divine guidance and strength.

As Chairman of the All Progressives Congress (APC) Governors Forum, Uzodimma underscored the importance of Tinubu’s leadership, noting that the nation still needs his direction. He assured the President of continued prayers for strength to fulfill his mission for Nigeria.

“We still rely on your leadership, Mr. President. While we may not have silver or gold to offer, we will always pray for you, asking God to strengthen your resolve to leave a lasting legacy for this generation and those yet to come,” he concluded.

The Ogun State government, under the leadership of Governor Dapo Abiodun, has announced plans to acquire a 9-megawatt hydro power plant located within the Ogun-Osun River Basin Development Authority. This move aims to boost electricity supply across the state by leveraging renewable energy.

During an inspection of the facility, Governor Abiodun revealed that discussions with the Bureau of Public Enterprises (BPE) are underway to finalize the acquisition. He emphasized that integrating the hydro power plant with the state’s existing 30-megawatt gas-fired power plant in Onijanganjangan would create a more reliable and balanced energy mix, enhancing power distribution in Ogun State.

Commissioned in 1983, the hydro power plant has remained largely underutilized, despite its potential to support sustainable energy generation. The governor explained that the dam was originally designed for multiple purposes, including water management, irrigation, electricity generation, and agricultural development.

“Only one of the three turbines was ever commissioned, while the other two were never fully installed,” Abiodun noted. “We are actively working with the BPE to take over and fully optimize this power plant.”

As part of the Ogun State Light Up Project, engineers will soon assess the facility to determine the best approach for restoring its full capacity. This initiative aligns with the government’s broader strategy to establish power plants in key locations such as Abeokuta, Ijebu, Remo, and Yewa, ensuring more stable electricity access across the state.

Beyond electricity generation, the governor highlighted the immense agricultural potential of the River Basin. He suggested that the land could be developed into farm clusters to maximize irrigation benefits, further supporting food production. Additionally, he pointed out that the area is well-suited for cattle farming, aligning with President Bola Ahmed Tinubu’s Renewed Hope Food Initiative.

Governor Abiodun also commended the original vision behind the hydro power project but criticized the federal government’s inconsistency in project execution, which has led to the underutilization of key infrastructure.

Addressing concerns about frequent flooding in Isheri, he clarified that, according to the River Basin’s Managing Director, the dam is not responsible for the issue, which originates from other water sources.

This strategic acquisition marks a significant step toward Ogun State’s commitment to energy diversification and sustainable development.