President Bola Ahmed Tinubu has formally inaugurated the newly reconstituted 11-member board of the Nigerian National Petroleum Company Limited (NNPCL), with Engr. Bashir Bayo Ojulari as Group Chief Executive Officer and Ahmadu Musa Kida as Non-Executive Chairman.
The swearing-in ceremony was held on Thursday during the All Progressives Congress National Summit at the Banquet Hall of the State House in Abuja.
Dignitaries in attendance included the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Information and National Orientation, Mohammed Idris; and Minister of State for Petroleum Resources, Heineken Lokpobiri.
New NNPC Board Composition
The newly inaugurated board features a blend of regional and industry representation:
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Adedapo Segun
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Bello Rabiu (North West)
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Yusuf Usman (North East)
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Babs Omotowa (North Central), former MD of Nigeria LNG
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Austin Avuru (South-South)
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David Ige (South-West)
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Henry Obih (South-East)
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Lydia Shehu Jafiya, Permanent Secretary, Ministry of Finance
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Aminu Said Ahmed, representative of the Ministry of Petroleum Resources
All appointments take effect from April 2, 2025.
Mandate to Maximise Value
President Tinubu tasked the new board with conducting a strategic review of NNPCL’s operated and joint venture assets to ensure alignment with the company’s value maximisation objectives.
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The administration’s ambitious targets include raising crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030. It also seeks to boost gas production to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.
Additionally, the President expects NNPC to raise its share of refining output to 200,000 barrels per day by 2027 and 500,000 barrels daily by 2030.
Profiles of Key Appointees
Ahmadu Musa Kida, the new board chairman, is a seasoned petroleum engineer from Borno State. A graduate of Ahmadu Bello University, Zaria, he also holds a postgraduate diploma in petroleum engineering from the Institut Français du Pétrole, Paris. He began his career with Elf Petroleum Nigeria and later joined Total E&P, rising to the position of Deputy Managing Director of Deep Water Services in 2015. He most recently served as an Independent Non-Executive Director at Pan Ocean-Newcross Group.
Bashir Bayo Ojulari, the newly appointed Group CEO, hails from Kwara State. Prior to his appointment, he served as Executive Vice President and COO of Renaissance Africa Energy Company. Under his leadership, Renaissance led a consortium of local energy firms to acquire Shell’s entire equity stake in Shell Petroleum Development Company of Nigeria (SPDC), a $2.4 billion landmark deal.
The new board is expected to steer NNPCL towards greater efficiency, transparency, and alignment with national energy and economic goals.
