President Tinubu Sacks Mele Kyari, Eunice Eunice Thomas, Others From NNPC Limited Board

Bola Ahmed Tinubu, President Nigeria

President Bola Ahmed Tinubu has announced a major shake-up in the Nigerian National Petroleum Company (NNPC) Limited board, effective April 2, 2025. The changes aim to enhance operational efficiency, restore investor confidence, and drive economic growth.

In a statement released by the presidential spokesperson, Bayo Onanuga, President Tinubu revealed that the new 11-man board will be led by Ahmadu Musa Kida as non-executive chairman and Engineer Bashir Bayo Ojulari as Group CEO. The new board members include Bello Rabiu from the North West, Yusuf Usman from the North East, and Babs Omotowa, a former managing director of Nigeria Liquefied Natural Gas (NLNG), representing the North Central.

Austin Avuru, replacing Eunice Thomas, will represent the South-South, while David Ige and Henry Obih will represent the South West and South East, respectively. Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, and Aminu Said Ahmed, representing the Ministry of Petroleum Resources, will serve as ex-officio members.

The new board has been tasked with conducting a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximization objectives. President Tinubu also expects the board to increase investment in the oil sector to $30 billion by 2027 and $60 billion by 2030, raise oil production to 2 million barrels daily by 2027 and 3 million daily by 2030, boost gas production to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030, and elevate NNPC's share of crude oil refining output to 200,000 barrels by 2027 and 500,000 by 2030.

President Tinubu thanked the outgoing board members for their dedicated service, particularly in rehabilitating the old Port Harcourt and Warri refineries, which enabled them to resume petroleum product production after prolonged shutdowns. He wished them well in their future endeavors. The president emphasized that the board's restructuring is crucial for enhancing operational efficiency, investor confidence, boosting local content, driving economic growth, and advancing gas commercialization and diversification