President Tinubu has sacked NNPCL GCEO Mele Kyari and appointed Engr. Bashir Bayo Ojulari as the new GCEO and Ahmadu Musa Kida as non-executive chairman. The president also sacked all board members who were appointed alongside Akinyelure and Kyari in November 2023.
The development in Nigeria‘s oil company happened amid the growing controversy between the NNPC Limited and Dangote Refinery, a major privately owned refinery in Nigeria. The NNPCL earlier agreed to sell Nigeria’s crude oil to the refinery in naira, with the hope of stabilizing the naira and reducing fuel price in Nigeria.
However, the deal ended a month ago, and the two companies could not renew the contract, which has led to an increase in the price of fuel, and retailers now import fuel rather than buying from Dangote, as Dangote also sells in dollars following the end of the deal.
But on Wednesday morning, April 2, the presidency announced a major shakeup in Nigeria’s major oil company as Tinubu’s administration sacked all the board members and made fresh appointments.
Before now, there have been speculations that Tinubu will sack Kyari, the speculations grew after the removed NNPC boss clocked retirement age, but it appeared the president was not ready to retire Kyari as of the time.
Adedapo Segun, who took over the role of chief financial officer from Umaru Isa Ajiya last November, has been named to the new board by President Tinubu.
Six board members, non-executive directors, represent the country’s geopolitical zones. They are Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas( NLNG), who represents North Central.
President Tinubu appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.
Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
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Source: Legit.ng
