In a significant move to continue revitalizing Nigeria's oil industry, President Bola Tinubu has appointed former Shell executive Bayo Ojulari as the new Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL). 

Ojulari succeeds Mele Kyari, who led the company since 2019. The appointment is part of a broader restructuring that includes the replacement of the entire 11-member board. Ahmadu Musa Kida, formerly of Total, has been named the new non-executive chairman. ​ 

Ojulari brings over two decades of experience in the oil and gas sector, notably serving as Managing Director of Shell Nigeria Exploration and Production Company from 2015 to 2021. His expertise in deepwater exploration and production is expected to be instrumental in steering NNPCL towards increased efficiency and transparency. ​ 

The reconstitution of NNPCL's leadership comes at a critical time for Nigeria's oil industry, which has faced challenges including declining production and large-scale theft. President Tinubu has set ambitious targets to boost oil production to two million barrels per day by 2027 and three million by 2030. Additionally, the administration aims to increase gas production to eight billion cubic feet daily by 2027 and ten billion by 2030. ​ 

The new board is tasked with conducting a strategic review of NNPCL's assets to maximize value and enhance operational efficiency. This initiative is part of broader efforts to attract investment, restore investor confidence, and drive economic growth in Africa's largest oil-producing nation.