By Emmanuel Kwada
President Bola Ahmed Tinubu has reconstituted the Nigerian National Petroleum Company (NNPC) Limited board, removing the former chairman, Chief Pius Akinyelure, and the group chief executive officer, Mallam Mele Kolo Kyari. The new 11-man board is chaired by Ahmadu Musa Kida, with Engineer Bashir Bayo Ojulari as the Group CEO.
The new board members include Adedapo Segun, who retains his position as Chief Financial Officer, and six non-executive directors representing the country’s geopolitical zones.
These include Bello Rabiu (North West), Yusuf Usman (North East), Babs Omotowa (North Central), Austin Avuru (South-South), David Ige (South West), and Henry Obih (South East).
The new board has been tasked with conducting a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximization objectives
President Tinubu emphasized that the board’s restructuring is crucial for enhancing operational efficiency, restoring investor confidence, and driving economic growth.
The new board has been tasked with conducting a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximization objectives.
The Tinubu administration has implemented oil sector reforms to attract investment, with NNPC reporting $17 billion in new investments last year. The goal is to increase investment to $30 billion by 2027 and $60 billion by 2030, while raising oil production to two million barrels daily by 2027 and three million daily by 2030.
