Breaking … End of era! Kyari came out when Tinubu agreed to a big change in NNPC

In a step similar to a midnight coup, Ball President Ahmed Tinubu in the early days of Wednesday fired a group Chief Executive Officer of the Nigeria National Petroleum Company Limitee, Mele Kolo Kyari.

Special advisors about information and strategies, Bayo Onanuga. announced this in a statement in Abuja.

He said the President removed the Chairman of the NNPC, Pius Akinyelure in a broad reconstitution of the Company Council.

President Tinubu deleted all other board members appointed with Akinyelure and Kyari in November 2023.

The new 11-Man Council has an Engr. Bashir Bayo Ojulari as CEO of the group and Ahmadu Musa Kida as non-executive chairman.

Adedapo Segun, who replaced Umaru Isa Ajiya as Chief Financial Officer last November, was appointed to the new council by President Tinubu.

Six board members who are non-executive director, representing the country’s geopolitical zone.

They are Bello Rabiu, northwest, Yusuf Usman, Northeast, and Babs Omotowa, former Director of Natural Gas Liquified Nigeria (NLNG), who represented North Central.

President Tinubu appointed Austin Avuru as a non-executive director from the south-south, David Ige as non-executive director from the southwest, and Henry Obih as non-executive director from Southeast.

Mrs. Lydia Shehu Jafiya, the permanent secretary of the Federal Ministry of Finance, will represent the Ministry in the new council, while Aminu said Ahmed will represent the Ministry of Oil Resources.

All promises of effective meetings today, April 2.

President Tinubu, who requested the strength given based on section 59, paragraph 2 of the Oil Industry Law, 2021, emphasized that the restructuring of the council is very important to improve operational efficiency, restore investor confidence, increase local content, encourage economic growth, and advance gas commercialization and diversification.

President Tinubu also distributed immediate action plans to the new council: to conduct a strategic portfolio review of the joint venture assets operated by NNPC and to ensure alignment with the objective of maximizing value.

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Since 2023, the Tinubu government has implemented the oil sector reform to attract investment. Last year, NNPC reported $ 17 billion in new investments in this sector. Administration now imagines increasing investment to $ 30 billion in 2027 and $ 60 billion in 2030.

The Tinubu government is targeting to increase oil production to two million barrels every day in 2027 and three million every day in 2030. At the same time, the government wants gas production to be covered up to 8 billion cubic feet every day in 2027 and 10 billion cubic feet in 2030.

In addition, President Tinubu expects a new council to increase the NNPC section of the output of crude oil purification to 200,000 barrels in 2027 and reach 500,000 in 2030.

The new chairman of the council, Ahmadu Musa Kira, came from the state of Borno. He is an alumnus of Ahmadu Bello University, Zaria, where he received a title in the field of Civil Engineering in 1984. He also received a Postgraduate Diploma in the Field of Oil Engineering from the Francaise Du Petrol Institute (IFP) in Paris

He began his career in the oil industry at ELF Petroleum Nigeria and then joined the total exploration and production as a training participant engineer in 1985.

Moses became Deputy Director of Deep Water Nigeria in total in 2015. Last year, he became an independent non-executive director at PAN Ocean-Newcross Group.

Apart from the career of the oil industry, Ahmadu Musa Kida is a former basketball player and president of the Nigerian basketball federation council (NBBF).

Ojulari, the CEO of the new NNPC Limited Group, comes from the state of Kwara. Until his new appointment, he was the Vice President of the Executive and Chief Operating Officer of the Renaissance Africa Energy Company. The new Renaissance is to lead the consortium of customary energy companies in an important acquisition of all equity ownership in the Shell Nigeria petroleum development company (SPDC), worth $ 2.4 billion.

Like Kida, Ojulari is also an alumnus of Ahmadu Bello University, Zaria. He graduated with a degree in mechanical engineering.

He worked for Elf Aquitaine as the first Nigerian process engineer to start a star career in the oil sector. From ELF, he joined the Shell Petroleum Development Company Nigeria Ltd in 1991 as an associate production technology.

In addition to working in Nigeria, he works in Europe and the Middle East in various capacity as a process of petroleum and production engineers, strategic planners, field developers, and asset managers.

In 2015, he became the Director of the Executive and Production of Shell Nigeria (SNEPCO).

During his career, he was the chairman and member of the Petroleum Engineering Community Supervisory Board (SPE Nigeria Council) and fellow Nigerian engineers.

President Tinubu thanked the old council members for their special services to NNPC Limited, especially their efforts to rehabilitate the Port and Warri Lama Port Refinery, which allowed them to continue the production of oil products after a prolonged closure. He hopes they are good in their future efforts.

By: Babajide Okeowo

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