Business News

Tinubu Reshuffles NNPC Board, Retains Kyari as CEO

By Adedapo Adesanya

President Bola Tinubu has announced the reappointment of Mr Mele Kolo Kyari as the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited.

This move comes as part of a larger reshuffle, where President Tinubu has unveiled a new board and management team for the NNPC Limited which will commence their duties from December 1, 2023.

Mr Kyari’s reappointment comes after recent calls to have him sacked.

Having spent four years under the immediate past administration of Mr Muhammadu, the renewed appointment shows the current government has confidence in his ability to steer the state oil company toward an increase in a challenging global oil economy, including a planned IPO and restarting of public refineries.

Alongside Mr Kyari, the President has appointed a diverse and experienced group of individuals to the NNPC Limited board. Chief Pius Akinyelure takes on the role of Non-Executive Board Chairman, bringing a wealth of experience from the oil sector and beyond. Mr Umar Isa Ajiya will continue to serve as the Chief Financial Officer, a role critical to the financial stability and strategic investment decisions of NNPC Limited.

The board is further strengthened with the inclusion of several Non-Executive Directors, namely Mr Ledum Mitee, Mr Musa Tumsa, Mr Ghali Muhammad, Professor Mustapha Aliyu, Mr David Ogbodo, and Ms Eunice Thomas.

According to a statement by presidential spokesman, Mr Ajuri Ngelale, on Monday night, the appointments were in compliance with Section 59 (2) of the Petroleum Industry Act (PIA) 2021.

In addition, the statement highlighted President Tinubu’s expectation for complete adherence to the performance-driven mandate of his Renewed Hope administration. The primary goal is the execution of an energy policy that capitalizes on current oil and gas resources and sets the stage for exploring new and cleaner energy sources with the distinguished team.

According to the statement by Mr Ngelale, the president appointed nine Non-Executive directors as board members of NNPCL as well as two other permanent secretaries for the Federal Ministry of Finance and the Federal Ministry of Petroleum Resources.

Below is the list of the new board;

(1) Chief Pius Akinyelure — Non-Executive Board Chairman

(2) Mallam Mele Kolo Kyari — Group Chief Executive Officer

(3) Alhaji Umar Isa Ajiya — Chief Financial Officer

(4) Mr. Ledum Mitee — Non-Executive Director

(5) Mr. Musa Tumsa — Non-Executive Director

(6) Mr. Ghali Muhammad — Non-Executive Director

(7) Prof. Mustapha Aliyu — Non-Executive Director

(8) Mr. David Ogbodo — Non-Executive Director

(9) Ms. Eunice Thomas — Non-Executive Director

Back to top button