… Gov AbdulRazaq Hails Appointment, Commends President for Honouring Kwara
President Bola Ahmed Tinubu has approved a sweeping reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, appointing Engr. Bashir Bayo Ojulari as the new Group Chief Executive Officer (GCEO) and Ahmadu Musa Kida as the Non-Executive Chairman. This restructuring, effective April 2, 2025, aims to enhance operational efficiency, restore investor confidence, and advance Nigeria’s energy sector.
Engr. Ojulari, a distinguished engineer from Kwara State, brings decades of experience in the oil and gas industry. Prior to his appointment, he was the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. Under his leadership, Renaissance spearheaded the landmark $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC), a deal that reshaped the country’s oil sector.
A graduate of Mechanical Engineering from Ahmadu Bello University, Zaria, Ojulari began his career as the first Nigerian process engineer at Elf Aquitaine before joining Shell Petroleum Development Company in 1991. Over the years, he held various strategic positions in Nigeria, Europe, and the Middle East, serving as a petroleum process and production engineer, strategic planner, field developer, and asset manager. In 2015, he became the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO).
Governor AbdulRahman AbdulRazaq of Kwara State hailed the appointment of Engr. Ojulari as a remarkable honour for the state, expressing gratitude to President Tinubu for recognizing the contributions of Kwarans to national development.
“On behalf of the people and government of Kwara State, I express our profound appreciation to Mr. President for these A-list appointments. We are very proud to be an integral part of the President’s team,” the Governor stated.
“Our prayers, best wishes, and support are with Engr. Ojulari and the new NNPC leadership. With his vast experience and the backing of stakeholders, we are confident that he will take the oil sector to greater heights. We pray that his tenure records unprecedented success in driving investment, increasing oil and gas production, and ensuring a stronger NNPC.”
President Tinubu has tasked the new board with executing an ambitious energy agenda, including a strategic review of NNPC-operated and Joint Venture assets to maximize value. His administration is targeting $30 billion in new oil sector investments by 2027 and $60 billion by 2030, while aiming to boost crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030. Similarly, gas production is set to increase to 8 billion cubic feet per day by 2027 and 10 billion cubic feet per day by 2030.
Additionally, NNPC’s refining capacity is expected to grow, with the goal of increasing its share of crude oil refining output to 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030.
President Tinubu thanked the outgoing NNPC leadership, including former Group CEO Mallam Mele Kyari and Chairman Chief Pius Akinyelure, for their service, particularly their efforts in reviving the Warri and Port Harcourt refineries. He wished them success in their future endeavours.
With Engr. Ojulari now at the helm of NNPC, stakeholders anticipate a new era of innovation, investment, and progress in Nigeria’s oil and gas industry.
