President Bola Tinubu has announced sweeping changes at the Nigerian National Petroleum Company (NNPC) Limited, including the dismissal of Mele Kyari as the Group Chief Executive Officer (GCEO) and the dissolution of its board.
This decision, effective April 2, 2025, is part of the government’s strategy to enhance the operational efficiency of the oil giant and restore investor confidence.
A statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed that Tinubu invoked his powers under Section 59(2) of the Petroleum Industry Act (PIA) 2021 to carry out the leadership overhaul aimed at making NNPC more commercially viable and efficient.
Adedapo Segun, who took over the role of chief financial officer from Umaru Isa Ajiya last November, has been named to the new board by President Tinubu. Six board members, non-executive directors, represent the country’s geopolitical zones. They are Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas( NLNG), who represents North Central.
President Tinubu appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.
Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
