May 22, (THEWILL) – President Bola Tinubu has tasked the newly reconstituted board of the Nigerian National Petroleum Company (NNPC) Limited, led by Group Chief Executive Officer, Bashir Bayo Ojulari, to consolidate the gains of ongoing economic reforms and help reposition Nigeria’s oil and gas sector.
Speaking at the swearing-in ceremony of the 11-member board at the State House in Abuja on Thursday, Tinubu said the appointments were made with careful consideration to ensure capable leadership at the helm of the national oil company.
“When I started the search, it took a while to come up with the kind of character that you represent. You are among the best the industry can offer — resourceful, reputable, and experienced. I have set goals for you. It is a call to duty, and I believe you will deliver,” the President said.
He expressed confidence that the reforms introduced under his administration had started yielding results, noting that both local and international observers had acknowledged the resilience and competitiveness of the Nigerian economy.
“Nigeria has come of age. We are turning the corner and becoming more competitive. With this highly respected team in place, I can focus on other national priorities. Thank you for accepting the opportunity to serve,” Tinubu stated.
He urged the board to look inward in proffering solutions to economic challenges, stressing that Nigerians would rely on a revitalised NNPC Ltd. to deliver results.
“Explore all options to achieve a win-win for Nigeria. I am proud of you and confident that you will succeed,” he said.
The newly constituted board, whose appointments took effect from April 2, 2025, comprises Bashir Bayo Ojulari as Group Chief Executive Officer, Ahmadu Musa Kida as Non-Executive Chairman, Adedapo Segun and Bello Rabiu representing the North West, Yusuf Usman representing the North East, Babs Omotowa representing the North Central, Austin Avuru as Non-Executive Director for the South-South, David Ige representing the South-West, Henry Obih representing the South-East, Mrs. Lydia Shehu Jafiya as the representative of the Federal Ministry of Finance, and Aminu Said Ahmed representing the Ministry of Petroleum Resources.
The reconstitution of the board followed the removal of former chairman Chief Pius Akinyelure and former GCEO Mallam Mele Kyari on April 2.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, hailed the appointments, describing the new board as the best Africa could offer.
“I received calls from colleagues across Africa and within OPEC. They said if this team doesn’t deliver, then we may need to import people from another planet to run our oil and gas sector,” he said.
Board Chairman, Ahmadu Musa Kida, thanked the President for the opportunity, pledging that the board would uphold the highest standards of leadership, integrity, and accountability in executing its mandate.
In his remarks, Ojulari said the new management had hit the ground running by engaging stakeholders and setting a clear operational direction.
“We’ve had several meetings already. We now hold bi-weekly engagements with industry stakeholders. We’ve begun optimising key operations, including the turnaround maintenance of refineries,” he said.
Ojulari also noted that crude oil production had increased from 1.5 million to 1.7 million barrels per day within two months, with a target of reaching 1.9 million barrels by the end of the year.
“We will only promise what we can deliver — and we will deliver on those promises,” he assured.
He added that President Tinubu’s reform agenda had created the right investment climate, stating that NNPC Ltd. would henceforth operate strictly as a business entity.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
