President Tinubu – Mele Kyari Fired as NNPCL GCEO, Engr. Bashir Ojulari Appointed

Mele Kyari has been relieved of his duties as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL). President Bola Ahmed Tinubu made the announcement, signaling a paradigm shift in the leadership of the country’s oil sector. Kyari, who was appointed to the role in 2019 and reappointed in 2023, played a crucial role in transitioning NNPCL from a state-run corporation to a fully commercial entity.

Engr. Bashir Bayo Ojulari has been named as the new GCEO, bringing decades of experience in petroleum engineering and management. His appointment comes at a time when NNPCL is navigating challenges such as fluctuating global oil prices, subsidy removal impacts, and the push for energy diversification. Ojulari’s leadership will be critical in driving efficiency and transparency within Nigeria’s oil and gas sector.

NNPCL Board Members Sacked in Sweeping Reforms

Mele Kyari’s removal was accompanied by the dissolution of the entire NNPCL board, including those appointed alongside him in November 2023. This decisive move by President Tinubu reflects a broader strategy to restructure the governance of Nigeria’s oil giant and introduce fresh perspectives into its management.

All board members, including Senator Ifeanyi Akinyelure, who chaired the dissolved board, have been dismissed. This overhaul is seen as an effort to enhance corporate governance and reposition the company for greater efficiency. Industry analysts suggest that the restructuring aims to address concerns about the company’s performance and its role in national economic growth.

Adedapo Segun Retained as Chief Financial Officer

Mele Kyari’s tenure saw key financial leadership changes, including the appointment of Adedapo Segun as Chief Financial Officer (CFO) in November 2023. Despite the broader leadership shake-up, President Tinubu has chosen to retain Segun in the reconstituted board. His expertise in financial management and previous experience in NNPCL’s downstream operations make him a valuable asset during this transition.

Segun’s role will be pivotal in ensuring fiscal discipline and driving profitability, especially as NNPCL moves toward full commercial operations. His presence in the new leadership structure indicates continuity in financial strategy even as other areas of the company undergo major transformations.

Geopolitical Balance in Board Appointments

Mele Kyari’s exit has paved the way for a reconstituted board that reflects Nigeria’s geopolitical diversity. The newly appointed non-executive directors include seasoned professionals from various regions to ensure balanced representation and expertise in decision-making.

The board now includes Bello Rabiu (North West), Yusuf Usman (North East), and Babs Omotowa (North Central), a former Managing Director of Nigeria Liquefied Natural Gas (NLNG). From the southern regions, Austin Avuru (South-South), David Ige (South West), and Henry Obih (South East) have been appointed, bringing a wealth of experience in the oil and gas industry.

Government Representation Strengthened

Mele Kyari’s departure also comes with a strategic alignment between NNPCL and key government ministries. President Tinubu has appointed Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, to represent the ministry on the new board. Additionally, Aminu Said Ahmed will serve as the representative of the Ministry of Petroleum Resources.

Their inclusion is expected to strengthen policy coordination between NNPCL and the federal government. This move aligns with Tinubu’s broader economic strategy of ensuring that Nigeria’s oil sector is managed efficiently and transparently while contributing to national revenue growth.

Mele Kyari: What This Means for Nigeria’s Oil Sector

Mele Kyari’s removal and the appointment of Engr. Bashir Ojulari mark a turning point for NNPCL. The company is undergoing its most significant restructuring in years, with a leadership team tasked with improving operational efficiency, increasing revenue, and addressing energy sector challenges.

With global oil markets evolving and Nigeria’s petroleum sector facing increased scrutiny, the new leadership will be under pressure to deliver results. The reorganization is expected to restore confidence among investors and stakeholders, reinforcing NNPCL’s role in driving Nigeria’s economic growth.