In a decisive move to revive Nigeria’s struggling oil sector, the new management of the Nigerian National Petroleum Company Limited (NNPCL) has terminated the appointments of the managing directors of the nation’s three state-owned refineries, alongside several top-ranking officials of the oil giant.
Affected by the shake-up are the heads of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company. Other senior personnel, including Bala Wunti, former chief of NNPC’s upstream subsidiary, the National Petroleum Investment Management Services (NAPIMS), were also relieved of their duties. A number of employees with less than a year to retirement were directed to exit the company early.
Although NNPCL spokesperson Olufemi Soneye has not publicly commented, multiple reliable sources within the company confirmed the sweeping changes, attributing them to a performance audit initiated by the new leadership under President Bola Tinubu.
The development follows the president’s sudden dismissal of former NNPCL Group CEO Mele Kyari and the company’s board on April 2, 2025 a move widely interpreted as an attempt to reset Nigeria’s oil production and gas development strategy. Kyari, who was appointed in 2019, had faced mounting criticism for failing to meet production goals and for overseeing refineries that remained chronically underperforming, despite extensive rehabilitation funding.
Presidency sources described the move as necessary to “do things differently,” with one official stating that “some of the former leaders became part of the problem rather than the solution.” The same official noted that Tinubu was clear about his expectations: ramping up crude oil output to 2 million barrels per day by 2027 and 3 million barrels by 2030, and achieving 10 billion cubic meters of gas production by 2030.
“These are not civil service roles. This is a limited liability company. Performance is what counts,” the source said.
The new management is led by Bayo Ojulari, a seasoned industry professional and former COO at Renaissance Africa Energy, which recently acquired Shell Petroleum Development Company’s Nigerian assets in a landmark $2.4 billion deal. Ojulari is joined by Musa Ahmadu-Kida as non-executive chairman on the newly constituted 11-man board.
Insiders say the sacking of the refinery heads was largely tied to the ongoing dismal performance of the plants. The Warri refinery, for instance, has remained shut since January 25, 2025, due to safety issues in its crude distillation unit despite an $897.6 million revamp project. The Port Harcourt refinery, which resumed operations in November 2024, has also been underwhelming, operating at less than 40% capacity.
A senior NNPCL official confirmed the clean-out, noting, “The three refinery MDs were let go. The performance of those facilities has been far from acceptable. Some other senior executives were also asked to leave, including those close to retirement.”
Additionally, Maryam Idrisu has been named the new Managing Director of NNPC Trading, the subsidiary responsible for crude oil sales and transactions.
Industry stakeholders have welcomed the shake-up, citing long-standing concerns over transparency, inefficiency, and the lack of real reform in the operations of Nigeria’s refineries. Observers also point to the fact that the country’s OPEC production quota has barely changed since 1973, with Nigeria consistently falling short.
“This is the first time we have a leadership team made up entirely of technocrats people who understand the business, not just the bureaucracy,” another official said. “If Nigeria is serious about energy security and revenue growth, this is the kind of bold reset that was long overdue.”
