President Tinubu Appoints Bayo Ojulari as NNPC GCEO in Major Leadership Overhaul

Sweeping Changes at NNPC as Tinubu Reconstitutes Board

In a bold move to reform the Nigerian National Petroleum Company Limited (NNPCL), President Bola Ahmed Tinubu has approved the appointment of Engineer Bashir Bayo Ojulari as the new Group Chief Executive Officer (GCEO) of the state-owned oil company. Ojulari replaces Mallam Mele Kyari, who had led the company through a challenging period in Nigeria’s energy sector.

The announcement, made on Wednesday, is part of a broader restructuring of the NNPCL board, which has also seen the removal of Chairman Chief Pius Akinyelure and all other board members previously appointed in November 2023. The newly reconstituted 11-member board is expected to play a crucial role in advancing President Tinubu’s vision for the oil and gas industry, enhancing efficiency, boosting domestic refining, and attracting foreign investment.

The board now features Ahmadu Musa Kida as the new Non-Executive Chairman, alongside Bayo Ojulari as the Group CEO. The reorganization reflects the government’s commitment to making the NNPC a more commercially viable entity in the global energy market.

Tinubu Sacks Mele Kyari As NNPC CEO

Key Appointments: A Diverse Leadership Team

The revamped NNPCL board includes seasoned professionals from various sectors, ensuring broad representation of Nigeria’s geopolitical zones. The newly appointed members are:

• Bello Rabiu (North West)
• Yusuf Usman (North East)
• Babs Omotowa (North Central, former MD of Nigeria LNG)
• Austin Avuru (South South)
• David Ige (South West)
• Henry Obih (South East)

Additionally, Mrs. Lydia Shehu Jafiya, the Permanent Secretary of the Federal Ministry of Finance, will serve as the Ministry of Finance’s representative, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.

The appointments take effect from April 2, 2025, signaling the beginning of a new era for Nigeria’s oil and gas industry.

A Strategic Move to Reform the Oil Sector

The NNPCL restructuring is part of a broader reform agenda initiated by the Tinubu administration to revamp Nigeria’s oil industry. The government’s focus includes:

• Boosting crude oil production from its current levels to two million barrels per day (bpd) by 2027 and three million bpd by 2030.
• Increasing gas production to 8 billion cubic feet per day (bcf/d) by 2027 and 10 billion bcf/d by 2030.
• Enhancing domestic refining capacity to reduce reliance on imported petroleum products. The goal is to increase NNPCL’s refining output to 200,000 bpd by 2027 and 500,000 bpd by 2030.
• Attracting investment to support oil and gas infrastructure, with plans to secure $30 billion in sector investments by 2027 and $60 billion by 2030.

Who is Bayo Ojulari? The Man Tasked with Transforming NNPC

The appointment of Engineer Bashir Bayo Ojulari as NNPC’s new Group Chief Executive Officer (GCEO) signals a shift towards expertise-driven leadership at the state oil giant. Ojulari, who hails from Kwara State, is an industry veteran with over three decades of experience in the oil and gas sector.

Early Life and Education

Bayo Ojulari holds a degree in Mechanical Engineering from Ahmadu Bello University, Zaria. His academic background laid the foundation for his extensive career in the energy sector, equipping him with the technical expertise needed to navigate the complex world of oil and gas.

Career Beginnings: Rising Through the Ranks

Ojulari’s career in the oil and gas industry began at Elf Aquitaine, where he made history as the company’s first Nigerian process engineer. His tenure at Elf Aquitaine gave him first-hand experience in petroleum processing and engineering, laying the foundation for a successful career in the industry.

In 1991, Ojulari joined Shell Petroleum Development Company of Nigeria Ltd, where he quickly rose through the ranks. Over the years, he took on several strategic leadership roles across Shell’s global operations. His expertise spans:

• Strategic Planning
• Asset Management
• Field Development
• Production Engineering

Ojulari has worked in Europe, the Middle East, and Africa, gaining international exposure that has helped shape his strategic approach to oil and gas operations.

Leadership at Shell: Spearheading Growth and Innovation

In 2015, Ojulari was appointed Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO). Under his leadership, SNEPCO expanded its deep-water operations, strengthening Nigeria’s position as a leading oil producer in Africa.

At Shell, he pioneered innovative field development strategies, leading efforts to optimize offshore production and improve Nigeria’s oil exploration capabilities. His leadership was instrumental in securing multi-billion-dollar investments into the country’s deep-water sector.

Renaissance Africa Energy: Driving Indigenous Energy Growth

Before his appointment as NNPC GCEO, Ojulari served as Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. At Renaissance, he played a pivotal role in a $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC) through a consortium of indigenous energy firms.

This acquisition was one of the largest energy deals in Nigeria’s history, demonstrating Ojulari’s ability to navigate complex industry transactions and drive significant investment into the sector.

His deep understanding of Nigeria’s energy landscape, combined with his global expertise, makes him a strong candidate to lead NNPC into a new era of profitability and efficiency.

Industry Leadership and Recognitions

Beyond his corporate leadership roles, Ojulari has been an active member of professional engineering and petroleum bodies. He has served as:

• Chairman and Board Member of the Society of Petroleum Engineers (SPE Nigerian Council)
• Fellow of the Nigerian Society of Engineers

His dedication to engineering excellence and industry development has earned him numerous accolades and recognition from global energy stakeholders.

A Vision for NNPC: What to Expect from Ojulari’s Leadership

With Bayo Ojulari at the helm of NNPC, industry stakeholders anticipate significant reforms aimed at boosting efficiency, cutting costs, and improving revenue generation. His leadership priorities are expected to include:

1. Enhancing Transparency and Accountability – Strengthening governance structures to eliminate corruption and inefficiencies.
2. Expanding Domestic Refining – Fast-tracking refinery projects to reduce Nigeria’s dependence on imported petroleum products.
3. Increasing Oil and Gas Production – Implementing new technologies and investment strategies to boost NNPC’s crude oil and gas output.
4. Improving Strategic Partnerships – Working with international and local investors to attract funding and modernize Nigeria’s energy infrastructure.
5. Maximizing Revenue Generation – Optimizing joint venture (JV) operations to ensure NNPC’s profitability.

 A New Era for NNPC

The appointment of Bayo Ojulari as NNPC’s new GCEO marks a pivotal moment in Nigeria’s energy sector. With a proven track record of leadership, industry experience, and strategic vision, Ojulari is well-positioned to lead NNPC into a new era of growth, efficiency, and global competitiveness.

As Nigeria seeks to maximize its oil and gas potential, the success of these reforms will be crucial in shaping the country’s economic future. The coming years will be a test of Ojulari’s leadership and his ability to deliver on President Tinubu’s ambitious goals for NNPC.