Mele Kyari, the group chief executive officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, has been sacked by President Bola Tinubu.
The President has equally dissolved the NNPCL board.
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This was contained in a statement signed by Bayo Onanuga, special adviser to the president on information and strategy.
According to the statement, the decision takes effective from April 2, 2025,
It noted that Pres.Tinubu invoked his powers under section 59(2) of the Petroleum Industry Act (PIA) 2021 to carry out the sweeping reconstitution, citing the need for “enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPC”.
”As part of the overhaul, Ahmadu Musa Kida has been appointed as NNPC’s new non-executive chairman, replacing Pius Akinyelure, while Bashir Bayo Ojulari takes over from Kyari as the new group CEO. Also, Adedapo Segun has been confirmed as the company’s chief financial officer (CFO).
“This restructuring is aimed at repositioning NNPC Limited for greater productivity and efficiency in line with global best practices. We are taking bold steps to transform the company into a more commercially driven and transparent entity,” the statement reads.
