Management and Staff of NNPC Ltd have welcomed the appointment of a new Group Chief Executive Officer (GCEO), Mr. Bayo Ojulari and Board of Directors for the company by President Bola Ahmed Tinubu.
The NNPC Ltd made this known in a release by its Chief Corporate Communications Officers, Olufemi Soneye, on Wednesday.
“We extend our profound appreciation to the outgoing GCEO, Mr. Mele Kyari, and the former Board Members for their selfless and dedicated service to the Company and to the nation,” it stated.
It also expressed its appreciation to the former Management of the national oil company, under the leadership of Mallam Mele Kyari.
“Mr. Kyari’s leadership and tireless efforts have left an indelible mark on NNPC Ltd. and we are sincerely grateful for his outstanding contributions.
“We wish him and all departing Board members continued success and fulfilment in their future endeavours,” the NNPC Ltd. added in the release.
Recall that President Tinubu had, in the early hours of today, announced dissolution of the Board of the NNPC Ltd, under the chairmanship of Senator Pius Akinyelure and Mallam Kyari as the GCEO.
The president had invoked the powers granted under Section 59, subsection 2 of the Petroleum Industry Act, 2021, to state that “the Board’s restructuring is crucial for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth and advancing gas commercialisation and diversification.”
The president, in a State House press release by his Special Adviser (Information & Strategy), removed all other board members appointed with Akinyelure and Kyari in November 2023.
In their places, he appointed a new 11-man board, with Engineer Bashir Bayo Ojulari as the new GCEO and Ahmadu Musa Kida as the non-executive chairman.
The sweeping reconstitution of the NNPC Ltd Board saw to the appointment of six board members, non-executive directors, representing the country’s six geopolitical zones.
All the appointments were with immediate effect from 2 April, just as President Tinubu also handed out an immediate action plan to the new NNPC Ltd. Board.
The action plan included conducting a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives.
