Ojulari Emerges New NNPC Boss; Kyari,others sacked

Austin Okoro DDM NEWS

President Bola Ahmed Tinubu has appointed Engr Bashir Bayo Ojulari as the new Managing Director of Nigeria National Petroleum Company Ltd.

Before his appointment, he was the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO).

Former NNPC Boss Mele Kyari and his Board members were removed and new one appointed.

This was contained in a report by Prince Chimaraoke Uwalaka and made available to the media.

The report states: “In a recent move to enhance efficiency in Nigeria’s oil and gas sector, President Bola Ahmed Tinubu has relieved Mele Kyari of his role as Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL).

“Engr. Bashir Bayo Ojulari has been appointed as the new GCEO, while Ahmadu Musa Kida assumes the position of Non-Executive Chairman of the board.

“Additionally, all board members appointed in November 2023 alongside Kyari and Akinyelure have been dismissed.

” However, Adedapo Segun, who took over as Chief Financial Officer (CFO) last year, has been retained as part of the newly constituted board.

“The revamped board includes six 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)

“Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, will serve as the ministry’s representative, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.

“President Tinubu emphasized that this shake-up is aimed at improving NNPCL’s operational efficiency, boosting investor confidence, increasing local content participation, fostering economic growth, and advancing gas commercialization and diversification efforts.

“He also outlined key strategic goals for the new board, including:

“Conducting a strategic review of NNPCL-operated assets and joint ventures to maximize value.

“Expanding oil sector investments, targeting $30 billion by 2027 and $60 billion by 2030, up from the $17 billion recorded last year.

“Increasing crude oil production to 2 million barrels per day by 2027 and 3 million by 2030, while boosting gas production to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.

“Raising NNPC’s share of crude refining output to 200,000 barrels per day by 2027 and 500,000 barrels by 2030.

Ahmadu Musa Kida – Board Chairman

“Hailing from Borno State, Kida earned a Civil Engineering degree from Ahmadu Bello University, Zaria, in 1984, followed by a postgraduate diploma in Petroleum Engineering from the Institut Français du Pétrole (IFP) in Paris.

“His career in the oil industry began at Elf Petroleum Nigeria before joining Total Exploration and Production in 1985.

“Rising through the ranks, he served as Deputy Managing Director of Total’s Deep Water Services in 2015.

“In 2023, he was appointed Independent Non-Executive Director at Pan Ocean-Newcross Group.

“Outside the oil sector, Kida is a former basketball player and previously led the Nigerian Basketball Federation (NBBF) as president.

“Engr. Bashir Bayo Ojulari – Group Chief Executive Officer (GCEO)

“Ojulari, a Kwara State native, graduated with a Mechanical Engineering degree from Ahmadu Bello University, Zaria.

” His career started at Elf Aquitaine, where he became the first Nigerian process engineer.

“He later joined Shell Petroleum Development Company of Nigeria Ltd in 1991, working in various international roles across Europe and the Middle East.

“His extensive experience includes serving as Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO) in 2015.

“Most recently, he was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company, leading the $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC).

“Ojulari has also served as Chairman and Trustee of the Society of Petroleum Engineers (SPE Nigerian Council) and is a Fellow of the Nigerian Society of Engineers.

“President Tinubu expressed gratitude to the former board members for their service, particularly their efforts in reviving the Port Harcourt and Warri refineries, which resumed petroleum product production after extended shutdowns.

“He wished them success in their future endeavors”, the report stated.

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