NNPC Leadership Shake-Up: President Tinubu Appoints Bayo Ojulari as New Group CEO

 

NNPC Leadership Shake-Up: President Tinubu Appoints Bayo Ojulari as New Group CEO

A Landmark Reshuffle in Nigeria’s Oil Sector

In a bold move to reinvigorate Nigeria’s oil and gas industry, President Bola Ahmed Tinubu has orchestrated a major shake-up at the Nigerian National Petroleum Company (NNPC) Limited. This strategic restructuring, effective April 2, 2025, sees Bayo Ojulari stepping in as the new Group Chief Executive Officer (GCEO), replacing Mele Kyari. Alongside this leadership overhaul, the President has also dismissed the NNPC board and appointed a fresh team to steer the company toward commercial viability and global competitiveness.



The restructuring comes at a time when Nigeria’s oil sector is under intense scrutiny, with global energy trends shifting towards sustainability and efficiency. The key changes include:

  • Bayo Ojulari’s Appointment as GCEO: A seasoned industry veteran with over 30 years of experience, Ojulari is tasked with spearheading reforms and driving operational efficiency.

  • Ahmadu Musa Kida as Non-Executive Chairman: A strategic move aimed at reinforcing governance and accountability.

  • Adedapo Segun as Chief Financial Officer (CFO): A financial expert poised to strengthen NNPC’s fiscal operations and investment appeal.

These appointments signal a renewed commitment to transforming NNPC into a commercially viable and globally competitive entity.

Who Is Bayo Ojulari? A Proven Industry Titan

Bayo Ojulari brings a wealth of expertise to his new role. His credentials include:

  • Mechanical Engineering Degree from Ahmadu Bello University.

  • Early Career at Elf Aquitaine, laying the foundation for his technical acumen.

  • Key Leadership at Shell Nigeria Exploration and Production Company (SNEPCo) – where he played an instrumental role in the 2021 OML 118 renewal agreement.

  • Pioneering Deepwater Exploration Initiatives, positioning Nigeria as a critical player in the global energy market.

His extensive background in upstream operations and business strategy makes him a formidable choice to lead NNPC into a new era.

The restructured leadership is expected to implement a high-impact strategy aimed at revitalizing the nation’s oil and gas industry. The core objectives include:

  • Boosting Crude Oil Production: Aiming for 2 million barrels per day by 2027 and 3 million barrels by 2030.

  • Expanding Gas Production: Increasing to 8 billion cubic feet per day by 2027 and 10 billion cubic feet per day by 2030.

  • Enhancing Domestic Refining: Targeting a refining output of 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030, reducing reliance on imports.

  • Attracting Foreign Investment: Securing $30 billion by 2027 and $60 billion by 2030 to drive infrastructure development and technological advancement.

This shake-up carries significant implications for Nigeria’s economic trajectory and energy stability:

  • Increased Investor Confidence: By positioning NNPC as a profit-driven enterprise, the government aims to attract strategic foreign partnerships.

  • Enhanced Energy Security: A ramp-up in refining capacity will curb dependency on imported petroleum products, stabilizing local fuel prices.

  • Job Creation and Technological Advancement: A modernized NNPC will foster employment opportunities and drive innovation in energy technologies.

The overhaul has drawn mixed reactions from industry players:

  • Optimists hail the move as a long-overdue step towards efficiency and global competitiveness.

  • Skeptics caution against bureaucratic bottlenecks that may hinder seamless implementation of reforms.

  • Economic analysts emphasize the need for transparency in governance and fiscal management to achieve long-term success.

President Tinubu’s decisive action in restructuring NNPC’s leadership is a watershed moment for Nigeria’s oil industry. With Bayo Ojulari at the helm, the organization is set on a transformative path toward enhanced productivity, financial sustainability, and global relevance. The coming months will be pivotal in determining whether these ambitious reforms will translate into tangible progress, ultimately positioning NNPC as a beacon of excellence in the global energy landscape.

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