Tinubu Fires Mele Kyari as CEO of NNPC names successor
President Bola Tinubu has removed Mele Kyari as the Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Corporation (NNPC) Limited, effective April 2, 2025. This decision is part of a broader restructuring effort aimed at enhancing operational efficiency, restoring investor confidence, and making NNPC more commercially viable.
To achieve this, Tinubu has appointed Bayo Ojulari as the new Group CEO, succeeding Mele Kyari. Additionally, Ahmadu Musa Kida has been appointed the non-executive chairman of NNPC, replacing Pius Akinyelure. Adedapo Segun has been confirmed as the company’s new Chief Financial Officer (CFO).
The president has also named six non-executive directors, each representing one of Nigeria’s geopolitical zones:
– *Bello Rabiu*: North-West
– *Yusuf Usman*: North-East
– *Henry Obih*: South-East
– *Lydia Shehu Jafiya*: Permanent Secretary, Federal Ministry of Finance
– *Aminu Said Ahmed*: Ministry of Petroleum Resources
These appointments are in line with the Petroleum Industry Act (PIA) 2021. The new board is tasked with implementing a strategic action plan to review NNPC-operated and joint venture assets, aligning them with value maximization goals .
The Tinubu administration has set ambitious targets for the oil sector, including increasing investment to $30 billion by 2027 and $60 billion by 2030. The government also aims to raise oil production to two million barrels daily by 2027 and three million daily by 2030, as well as increase gas production to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030 .
