President Bola Ahmed Tinubu has reconstituted the Nigerian National Petroleum Company (NNPC) Limited board, appointing Engineer Bashir Bayo Ojulari as the new Group CEO and Ahmadu Musa Kida as non-executive chairman today, 2nd of April 2025.
Ojulari, who hails from Kwara State, was previously the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. He led a consortium of indigenous energy firms in acquiring the entire equity holding in the Shell Petroleum Development Company of Nigeria (SPDC) for $2.4 billion.
The new board chairman, Ahmadu Musa Kida, is from Borno State and has a degree in civil engineering from Ahmadu Bello University. He also obtained a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP) in Paris.
The Tinubu administration has set ambitious targets for the new board, including increasing oil production to two million barrels daily by 2027 and three million daily by 2030. The government also aims to raise gas production to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030. Furthermore, President Tinubu expects the new board to elevate NNPC’s share of crude oil refining output to 200,000 barrels by 2027 and reach 500,000 by 2030.
The appointments take effect immediately, and President Tinubu has tasked the new board with conducting a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives.
