Lagos —

President Bola Tinubu has dismissed the entire board of the Nigerian National Petroleum Corporation (NNPC), which includes both CEO Mele Kyari and board chairperson Pius Akinyelure.

The choice, which will take effect on April 2, 2025, was revealed through an announcement from presidential spokesman Bayo Onanuga. The statement indicated that the President based this decision primarily on improving operational effectiveness, revitalizing investor trust, and making the NNPC more economically sustainable.

Utilizing his authority granted by Section 59(2) of the Petroleum Industry Act (PIA) 2021, the President reshuffled the board with fresh leadership intended to realign NNPC Limited for enhanced efficiency and adherence to international best standards.

Kyari was initially chosen as the NNPC chief by former President Muhammadu Buhari but was reinstated in 2023 by President Tinubu.

In the restructuring, Bayo Ojulari replaces Kyari as the new group CEO, whereas Ahmadu Musa Kida will serve as NNPC’s new non-executive chairman, taking over from Pius Akinyelure. Additionally, Adedapo Segun has been officially named as the company’s CFO.

As per the PIA guidelines, the president additionally appointed six non-executive directors, one from each of the country’s geopolitical zones.

They comprise Bello Rabiu representing the northwest, Yusuf Usman hailing from the northeast, and Babs Omotowa, who previously served as the managing director of Nigerian Liquefied Natural Gas (NLNG), for the north-central region.

Others include Austin Avuru for the south-south region, David Ige for the south-west region, and Henry Obih for the south-east region.

In the meantime, Lydia Shehu Jafiya, who serves as the permanent secretary at the federal Ministry of Finance, along with Aminu Said Ahmed from the Ministry of Petroleum Resources, will join the newly formed board representing their respective departments.