President Bola Tinubu has sacked the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited,, Mele Kyari.
Consequently, the President appointed Bashir Ojulari as the new CEO, effective from April 2, 2025.
Tinubu also dissolved its board, removing the Chairman, Chief Pius Akinyelure.
Bayo Onanuga, Special Adviser to the President on information and strategy, announced this in a statement on Wednesday.
Onanuga said Tinubu invoked his powers under section 59(2) of the Petroleum Industry Act (PIA) 2021 to carry out the sweeping reconstitution, citing the need for “enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPC”.
President Tinubu also gave the new board an immediate action plan to conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives
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