Tinubu Sacks NNPCL Boss Mele Kyari, Appoints Bayo Ojulari As Replacement

President Bola Tinubu has dismissed the board of the Nigerian National Petroleum Company (NNPC), including Group Chief Executive Officer Mele Kyari and Board Chairman Pius Akinyelure.

In their place,  President Tinubu appointed Bayo Ojulari as the new NNPCL CEO, effective April 2, 2025, alongside Ahmadu Musa Kida as the new non-executive chairman.

Adedapo Segun has also been named the company’s Chief Financial Officer.

The announcement, made by presidential spokesperson Bayo Onanuga, cited the need to improve efficiency, rebuild investor confidence, and position NNPC as a commercially viable entity.

Tinubu exercised his authority under Section 59(2) of the Petroleum Industry Act (PIA) 2021 to restructure the company’s leadership.

Mele Kyari, who was first appointed by former President Muhammadu Buhari and later reappointed by Tinubu in 2023, will now be replaced as part of the shake-up.

The restructured board also includes six new 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)

Additionally, Lydia Shehu Jafiya from the Ministry of Finance and Aminu Said Ahmed from the Ministry of Petroleum Resources will serve as representatives on the board.

According to the official statement, the restructuring is part of a broader effort to make NNPC more commercially driven and transparent.

The newly appointed leadership has been tasked with implementing a strategic action plan, including a review of NNPC’s operations and joint venture assets to maximize value. The changes take immediate effect.

This comes weeks after the Nigerian National Petroleum Company Limited (NNPCL) started new negotiations with Dangote Petroleum Refinery to extend the naira-for-crude agreement.