In a decisive move to address Nigeria’s faltering oil production, President Bola Tinubu has approved a comprehensive shake-up of the Nigerian National Petroleum Company Limited (NNPCL). The restructuring, announced on April 2, 2025, includes the removal of Group Chief Executive Officer Mele Kyari and Board Chairman Pius Akinyelure, along with all other board members appointed in November 2023 APAnews - Agence de Presse Africaine.
The presidency cited underperformance and failure to meet key output targets as the primary reasons for the overhaul thelead.ng. Nigeria has been grappling with declining oil production, which has impacted government revenues and foreign exchange earnings. The shake-up is seen as part of broader efforts to reform the oil and gas sector, enhance transparency, and restore investor confidence.
In their place, Engineer Bashir Bayo Ojulari has been appointed as the new Group CEO, while Ahmadu Musa Kida assumes the role of non-executive chairman. The new 11-member board is expected to bring a fresh approach to tackling the operational and structural challenges facing the NNPCL APAnews - Agence de Presse Africaine.
This move aligns with Tinubu’s broader economic reform agenda, which includes removing fuel subsidies, unifying exchange rates, and revamping state-owned enterprises. Analysts believe the NNPC shake-up signals the administration’s intent to hold public institutions accountable and improve performance in critical sectors.
The oil sector, which accounts for a significant portion of Nigeria’s revenue, has been plagued by pipeline vandalism, oil theft, and infrastructure decay. The new leadership is expected to prioritize production recovery, cost efficiency, and strategic partnerships to boost output and stabilize the economy.
Sources:
APNEws The Lead The Sudan TImes
