Abuja, March 2, 2025 – President Bola Tinubu has sacked the board of the Nigerian National Petroleum Company Limited, NNPCL.
Its Group Chief Executive Officer (CEO) Mele Kyari and the Chairman, Chief Pius Akinyelure, are also affected by the sack
Bayo Onanuga, A Presidential Spokesman, announced this on Wednesday morning,
He said the president acted within his powers as conferred on him by Section 59(2) of the Petroleum Industry Act (PIA) 2021 to carry out the sweeping reconstitution, citing the need for “enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPC.”
The president has also approved the appointment of a new 11-man board, to be headed by Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman.
According to the statement, “Adedapo Segun, who replaced Umaru Isa Ajiya as the chief financial officer last November, has been appointed to the new board by President Tinubu.
“The Six board members, non-executive directors, represent the country’s geopolitical zones. They are Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas( NLNG), who represents North Central.
“President Tinubu appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.
“Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources”.
The new appointments are to take effect from today, April 2.
