President Bola Tinubu has approved a reshuffle of the Nigerian National Petroleum Company (NNPC) Limited’s board, removing the previous Chairman and Group CEO, along with other board members appointed in November 2023.
This restructuring is part of a strategic move to improve the operational efficiency of NNPC and align the company with the country’s broader economic objectives.
The new board comprises seasoned professionals with extensive experience in the oil and gas sector. Engineer Bashir Ojulari has been appointed as the new Group CEO, while Ahmadu Kida takes over as the Non-Executive Chairman. The board also includes several new members from diverse regions of Nigeria, ensuring representation from the country’s geopolitical zones.
The new leadership team is tasked with conducting a strategic review of NNPC’s operations and assets to maximize value, boost investor confidence, and drive economic growth. This reshuffle is also aligned with President Tinubu’s ongoing oil sector reforms aimed at increasing Nigeria’s oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030, while boosting gas production to 8 billion cubic feet daily by 2027.
The President’s decision to revamp the NNPC board has been welcomed by industry stakeholders like the Nigerian Association of Petroleum Explorationists (NAPE), who are optimistic that the appointments will help restore investor confidence and elevate Nigeria’s position in the global energy market.
