By Habeeb Ibrahim
President Bola Ahmed Tinubu has restructured the leadership of the Nigerian National Petroleum Company (NNPCL), removing his longtime friend, Chief Pius Akinyelure, as the Non-Executive Chairman and Mallam Mele Kyari, the Group CEO of the board.
Akinyelure, who had been a prominent figure in Nigeria’s oil industry, was appointed to the NNPCL board by Tinubu, a man with whom he shares a deep personal and professional history.
Akinyelure, a seasoned oil executive and former Mobil Oil Company staff who first brought Tinubu into the corporate fold decades ago, had long been seen as an ally of the President.
The two have shared decades of mutual respect, with Akinyelure having played a role in the early days of Tinubu’s corporate career. Now, with Akinyelure’s removal, the President’s actions signal a shift toward an entirely new direction for NNPCL.
Despite the close ties, Tinubu’s decision was driven by the need for fresh leadership at NNPCL, which has long struggled with operational inefficiencies and lackluster performance in key areas like refining and gas commercialization.
Tinubu’s reorganization aims to inject new energy into the corporation, with Engineer Bayo Ojulari now stepping in as the Group CEO. Ojulari, a seasoned oil and gas expert, brings with him a wealth of experience, having led Shell Nigeria’s deepwater offshore assets.
The President, in his announcement, acknowledged Akinyelure’s significant contributions to the oil sector, particularly during his tenure as chairman of NNPCL. However, as Tinubu continues his mission to revamp Nigeria’s oil sector, the focus is now on a new generation of leaders who can meet the ambitious goals set by his administration.
This restructuring also marks the removal of several other board members, including Kyari, the former Group CEO, and Umar Isa Ajiya, the Chief Financial Officer.
