President Bola Tinubu has formally Inaugurated the newly constituted 11-man board members of the Nigerian National Petroleum Company (NNPCL) Limited with Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-Executive chairman.
The inauguration took place on Thursday at the All Progressives Congress National Summit, holding at the Banquet Hall, State House, Abuja.
Present at the event were the Ministers of Finance and coordinating Minister of the Economy, Wale Edun, Information and National Orientation, Mohammed Idris and the Minister of State for Petroleum, Heineken Lokpobiri.
The board members are Adedapo Segun, Bello Rabiu, Northwest, Yusuf Usman, Northeast, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas (NLNG), who represents North Central.
Austin Avuru, non-executive director from the South-South, David Ige as non-executive director from the Southwest, and Henry Obih as non-executive director from the Southeast.
Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, to represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
All the appointments have since taken effect from April 2nd,2025.
President Tinubu had handed out an immediate action plan to the new board: to conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives.
The Tinubu led administration targets raising oil production to two million barrels daily by 2027 and three million daily by 2030. Concurrently, the government wants gas production jacked to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.
President Tinubu aldo 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 new board chairman, Ahmadu Musa Kida is from Borno State and also an alumnus of Ahmadu Bello University, Zaria, where he received a degree in civil engineering in 1984.
He also obtained a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP) in Paris
He started his career in the oil industry at Elf Petroleum Nigeria and later joined Total Exploration and Production as a trainee engineer in 1985.
Musa became Total Nigeria’s Deputy Managing Director of Deep-Water Services in 2015.
Last year, he became an Independent Non-Executive Director at Pan Ocean-Newcross Group.
Ojulari, the new NNPC Limited Group CEO, hails from Kwara State. Until his new appointment, he was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company.
His Renaissance recently led a consortium of indigenous energy firms in the landmark acquisition of the entire equity holding in the Shell Petroleum Development Company of Nigeria (SPDC), worth $2.4 billion.
