Nigerian National Petroleum Corporation Limited (NNPC Ltd) has assumed new leadership following the sack of Mele Kyari as the NNPCL GCEO by President Bola Ahmed Tinubu on Wednesday, April 2, 2024, and the appointment of Engr. Bashir Bayo Ojulari as the new NNPCL GCEO.

President Tinubu in his announcement also dissolved the corporation’s board led by Patrick Ayo Akinyelure and all its members and appointed Ahmadu Musa Kida former TotalEnergies Nigeria Managing Director as non-executive chairman.

Bayo Bashir Ojulari, the newly appointed Chief Executive Officer of the Nigerian National Petroleum Company (NNPC), is a seasoned Nigerian engineer with expertise in petroleum, process, and production engineering. He began his career as the first Nigerian process engineer at Elf Aquitaine before joining Shell Petroleum Development Company in 1991. A native of Kwara State, Ojulari served as the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo) from 2015 to 2021

Why the sack

The recent sack of Mele Kyari has been surrounded by his retirement saga having clocked the mandatory service age, but his continuation in service at the helm of the corporation’s affairs was assumed to have been extended by President Bola Ahmed Tinubu.

Mele Kyari period of service expanded over six years after he replaced Maikanti Baru as the GMD of NNPC on June 20, 2019, by former President Buhari had overseen the transition of NNPCL to a Public Liability Company. Until his appointment as GMD of NNPC, Kyari, a geologist, was the Group General Manager of the Crude Oil Marketing Division of NNPC and has also doubled as Nigeria’s National Representative to the Organisation of the Petroleum Exporting Countries (OPEC).

Moreover the unresolved crude oil Naria purchase contract discrepancies between Nigerian National Corporation Limited and Dagote Refinery might connect to the sudden relinquishing of Mele Kyari duty. The contract for the sale of crude oil in Naira was structured as a six-month agreement that expired at the end of March 2025. Still, its renewal has met a brick wall leading to unusual panic in the downstream sector which might resurrect a climate of fear on petroleum product price hikes.

The crude oil in Naria policy mandates NNPC to supply crude oil to Dangote Refinery with payments settled in naira instead of foreign currency. The policy was announced in October 2024 to address foreign exchange pressures, stabilize fuel prices, and reduce reliance on imported refined products

The New NNPCL Board Members

The newly appointed NNPCL Board members comprise six board members and non-executive directors representing the country's geopolitical zones are;  Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquefied Natural Gas( NLNG), who represents North Central.

President Tinubu appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East. Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources. Adedapo Segun, who took over the role of chief financial officer from Umaru Isa Ajiya last November is also appointed to the new board.