President Tinubu Restructures NNPCL Board Appoints Engr Bashir Ojulari As New GCEO

President Tinubu Restructures NNPCL Board Appoints Engr Bashir Ojulari As New GCEO

In a significant restructuring move, President Bola Tinubu has appointed Engineer Bashir Ojulari as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL). The decision, which also saw the removal of the former GCEO, Mallam Mele Kolo Kyari, and the Board Chairman, Chief Pius Akinyelure, was announced by the presidential spokesman, Bayo Onanuga, in a statement released on Wednesday….READ MORE….

The President also relieved all other board members who were appointed alongside Akinyelure and Kyari in November 2023. The newly reconstituted 11-member board features Ojulari as the Group CEO and Ahmadu Musa Kida as the Non-Executive Chairman. Additionally, Adedapo Segun, who succeeded Umaru Isa Ajiya as Chief Financial Officer in November, has also been appointed to the new board.

Composition of the New Board

The revamped board includes six non-executive directors representing the country’s geopolitical zones:

• North West: Bello Rabiu

• North East: Yusuf Usman

• North Central: Babs Omotowa (Former MD of Nigerian Liquefied Natural Gas)

• South-South: Austin Avuru

• South-West: David Ige

• South-East: Henry Obih

Moreover, Mrs. Lydia Shehu Jafiya, the 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.

Strategic Vision and Objectives

The appointments, effective from April 2, are part of President Tinubu’s strategic plan to enhance NNPCL’s operational efficiency, restore investor confidence, increase local content, drive economic growth, and promote gas commercialisation and diversification. Tinubu’s administration has set ambitious targets, including:

• Raising oil production to two million barrels per day by 2027 and three million barrels by 2030.

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

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

Profiles of Key Appointees

Bashir Ojulari (Group CEO)
An alumnus of Ahmadu Bello University, Zaria, Ojulari holds a degree in Mechanical Engineering. Prior to his appointment, he was the Executive Vice President and COO of Renaissance Africa Energy Company, where he led a consortium to acquire the Shell Petroleum Development Company of Nigeria for $2.4 billion. Ojulari’s career includes roles at Elf Aquitaine as the first Nigerian process engineer and at Shell Petroleum Development Company as an associate production technologist. His expertise spans petroleum, process, and production engineering, with experience across Europe and the Middle East.

Ahmadu Musa Kida (Board Chairman)
Hailing from Borno State, Kida is also an alumnus of Ahmadu Bello University, Zaria, with a degree in Civil Engineering and a postgraduate diploma in Petroleum Engineering from the Institut Francaise du Petrol (IFP), Paris. He began his career at Elf Petroleum Nigeria and later joined Total Exploration and Production, eventually becoming Deputy Managing Director of Deep Water Services in 2015. Kida also serves as the President of the Nigerian Basketball Federation (NBBF).

Acknowledgment of Former Board

President Tinubu expressed his gratitude to the outgoing board members for their commitment, particularly their efforts in revitalising the old Port Harcourt and Warri refineries, which have resumed petroleum production after long periods of inactivity. He wished them success in their future pursuits.