Following the sack of Mele Kyari from the same office, Bayo Ojulari’s appointment as the new CEO of NNPC was officially announced by the presidency earlier today, April 2, 2025.
The statement, signed by Bayo Onanuga, President Tinubu’s Special Adviser on Information and Strategy, emphasized that Ojulari’s appointment takes immediate effect.
Additionally, Ahmadu Musa-Kida has been appointed as the non-executive chairman, while industry veterans Austin Avuru and Babs Omotowa join the board as non-executive directors.
The statement further noted that six board members, all non-executive directors, had been appointed to represent the country’s geopolitical zones.
These changes come amid various challenges affecting the sector, including issues surrounding the Naira-for-Crude policy and ongoing disputes with Dangote Industries over crude oil supply.
Bayo Ojulari: NNPCL’s new CEO
Bayo Ojulari, from the North-central region of the country, is a prominent energy executive with a distinguished career in Nigeria’s oil and gas sector.
He holds a degree in Mechanical Engineering from Ahmadu Bello University, Zaria.
Ojulari’s career began as the first Nigerian process engineer at Elf Aquitaine, later joining Shell in 1991 as an associate production technologist.
Ojulari’s experience spans roles in Europe and the Middle East, including managing offshore oil and gas projects as Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo) and General Manager of Deepwater.
Prior to his appointment as CEO of NNPC, Ojulari was the Executive Vice President and COO of Renaissance Africa Energy, where he played a pivotal role in the $2.4 billion acquisition of Shell’s equity in Nigeria.
The $2.4 billion acquisition of Shell’s equity in Nigeria was a landmark deal in the country’s oil industry, facilitated by a consortium of indigenous energy firms.
This acquisition marked a significant step toward strengthening Nigeria’s local capacity in the energy sector and reducing its reliance on foreign oil companies.
His leadership in technical integration, project engineering, and petroleum operations has made him a key figure in the industry.
With extensive expertise in energy transactions and operations, Ojulari is set to strengthen Nigeria’s domestic refining capacity and energy infrastructure as NNPC’s new leader, helping position the country as a global energy player.
This appointment marks a pivotal step in Tinubu’s broader strategy to reset NNPC, following the removal of fuel subsidies and naira devaluations.
With Ojulari at the helm, the administration aims to transform NNPC into a more efficient, revenue-generating entity by boosting oil production and revitalizing the country’s refining capacity.
