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Nigerian President Sacks Oil Board Chief, Appoints Replacement

President Bola Tinubu has sacked the board of the Nigerian National Petroleum Company (NNPC), including Group Chief Executive Officer Mele Kyari and board chairperson Pius Akinyelure.

Presidential spokesperson Bayo Onanuga said that Tinubu removed all other board members appointed with Akinyelure and Kyari in November 2023. Tinubu invoked the powers granted under Section 59, subsection 2 of the Petroleum Industry Act, 2021, citing the need for "enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPC" for his decision to dissolve the Nigerian National Petroleum Company (NNPC) board.

He appointed a new 11-man board, with Bashir Ojulari as the new CEO, effective from April 2, 2025. Tinubu expects the new board to elevate NNPC's share of crude oil refining output to 200,000 barrels by 2027 and reach 500,000 by 2030. 

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Newly appointed Nigerian National Petroleum Company CEO Bayo Ojulari.

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