Published: April 2, 2025 ✍️ Author: Global World Citizen – Africa Energy Desk 🌐 Source: GlobalWorldCitizen.com
In a bold leadership move aimed at revitalizing its oil sector, President Bola Tinubu of Nigeria has appointed Bashir Ojulari, a seasoned energy executive and former head of Shell Nigeria Exploration and Production Company, as the new CEO of NNPC Ltd. — Nigeria’s state-owned oil company.
Ojulari replaces Mele Kyari, the company’s longest-serving CEO, whose five-year tenure spanned a turbulent period in the nation’s energy sector. The transition marks a significant moment as Africa’s largest oil producer looks to boost crude output and restore refining capacity in an industry crucial to its economy and global energy dynamics.
Ojulari previously served as Chief Operating Officer at Renaissance Africa Energy Co., bringing with him decades of expertise in upstream oil operations and leadership in complex, high-stakes environments.
“The new board has been instructed to conduct an immediate strategic portfolio review of all NNPC-operated and joint venture assets to align with national value-maximization goals,” said presidential spokesperson Bayo Onanuga.
From Decline to Recovery
Under Kyari’s leadership, NNPC transitioned to a fully commercial enterprise in 2021, following the passage of a transformative petroleum law. However, his tenure also witnessed Nigeria’s oil production plummet from nearly 2 million barrels per day to under 1 million, largely due to security concerns and the exit of major oil firms from onshore operations.
The tide may now be turning. In recent months:
Shell announced a $5 billion investment in Nigeria’s offshore oil sector.
Two state-run refineries are being restarted after years of dormancy — signaling potential revival in local refining capabilities.
The Tinubu administration is betting on experienced leadership to sustain this momentum and reclaim Nigeria’s role as a key player in global oil markets.
New Board Leadership
Alongside Ojulari’s appointment, Ahmadu Musa Kida has been named Non-Executive Chairman, replacing Pius Akinyelure. Kida is expected to play a strategic governance role as NNPC navigates the evolving global energy landscape.
Global Insight
Nigeria’s oil sector is not just an economic pillar but a geopolitical lever across Africa and beyond. With fresh leadership and renewed international investments, the country is poised to regain its footing in the global energy race.
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