President Bola Ahmed Tinubu has dissolved the board of the Nigerian National Petroleum Company (NNPC) Limited, removing Chairman Pius Akinyelure and Group CEO Mele Kyari. A new 11-member board is now in place, with Ahmadu Musa Kida as chairman and Bashir Bayo Ojulari as Group CEO.
The 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), and Henry Obih (South East). Adedapo Segun remains as Chief Financial Officer, with Lydia Shehu Jafiya and Aminu Said Ahmed representing the finance and petroleum ministries.
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President Tinubu, citing Section 59(2) of the Petroleum Industry Act, said the move aims to improve efficiency, attract investment, and increase oil and gas production. His administration targets $60 billion in investments and oil production of three million barrels per day by 2030.
The president praised the outgoing board for restarting the Port Harcourt and Warri refineries. He directed the new board to review NNPC’s assets, expand refining capacity, and drive economic growth. All appointments take effect immediately.
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