LunagisthubNew Era for NNPCL: President Tinubu Appoints New Board and CEO
In a significant move, President Bola Tinubu has reconstituted the Nigerian National Petroleum Company Limited (NNPCL) board, removing the former chairman, Chief Pius Akinyelure, and group chief executive officer, Mele Kyari ¹. This change aims to enhance operational efficiency, restore investor confidence, and drive economic growth.
Meet the New Leadership
The new 11-man board boasts an impressive lineup, with Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman. Ojulari, an accomplished mechanical engineer, brings extensive experience from his tenure at Shell Nigeria Exploration and Production Company (SNEPCO) .
Kida, the new non-executive chairman, is a seasoned professional with a background in civil engineering and petroleum engineering. His expertise spans various roles, including his position as Deputy Managing Director of Deep Water Services at Total Nigeria .
Key Objectives
The new board has been tasked with achieving several ambitious objectives, including:
Ramping up refining capacity
Increase crude oil refining capacity to 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030.
Boosting local content
Enhance local participation in the oil and gas sector.
Driving economic growth
Contribute to Nigeria’s economic growth through sustainable energy development.
Advancing gas commercialization
Promote gas commercialization and diversification.
As the NNPCL embarks on this new chapter, Nigerians await the outcomes of these strategic changes. Will the new leadership be able to drive growth, increase transparency, and restore confidence in the oil and gas sector? Only time will tell.
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