President Bola Tinubu has dissolved the board of the Nigerian National Petroleum Company Limited (NNPCL), removing its chairman, Chief Pius Akinyelure, and Group CEO, Mallam Mele Kyari, along with other board members.
He immediately appointed Ahmadu Musa Kida as the new chairman and Engineer Bashir Bayo Ojulari as the Group CEO.
The newly reconstituted 11-member board includes representatives from Nigeria’s geopolitical zones and key government ministries. The appointments take immediate effect, with a focus on boosting investor confidence, increasing oil and gas production, and improving local content.
The president tasked the new board with reviewing NNPCL’s assets to maximize value and drive economic growth. He stressed his administration's desire to increase oil production to three million barrels per day and gas production to 10 billion cubic feet daily by 2030.
The president thanked the outgoing board members for their service, especially in reviving the Port Harcourt and Warri refineries, and wished them success in their future endeavors.
