- NNPCL CEO Mele Kyari seeks a four-month extension of his tenure amidst political intrigue and discussions about potential replacements
- Speculation about Kyari’s replacement rises, while legal experts cite the Petroleum Industry Act (PIA) allowing for potential reappointment without fixed term limits
- Significant achievements in restructuring NNPCL have marked Kyari's tenure, but questions about his future arise as President Tinubu deliberates on the extension request
As the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari celebrates his 60th birthday today, Wednesday, January 8. Attention has shifted to the expiration of his tenure and the possibility of an extension.
Legal professionals and industry insiders have raised concerns about the adherence to the rule of law and transparency surrounding the matter.
Kyari, who was appointed by former President Muhammadu Buhari in July 2019, is a veteran in the oil industry with over 32 years of experience at the NNPC.
His tenure has been marked by significant industry reforms and high-profile decisions, making him a prominent figure in the Nigerian oil and gas sector.
As he approaches the end of his term, discussions about a potential replacement have intensified, especially since he is one of the few appointees retained by President Bola Tinubu from the previous administration.
Sources close to the Presidency indicated that Kyari recently sought a four-month extension of his tenure. This request was allegedly made in a meeting with senior officials from President Tinubu's cabinet.
The rationale behind the extension is reportedly tied to ongoing projects, including the imminent operations of the Warri and Port-Harcourt refineries, which are expected to commence within the next month.
Kyari's supporters argue that his continued leadership would provide stability during this crucial phase.
However, the political landscape surrounding Kyari's future is complex. There have been speculations about potential replacements for the NNPCL CEO, with names such as Bayo Ojulari and Ahmadu Musa Kida emerging as potential candidates. Kida, a former executive at TotalEnergies, has gained attention due to his extensive experience in the oil industry and his close ties to influential figures, including the Chagoury brothers, who are allies of President Tinubu.
Reports suggest that Kida’s candidacy was discussed during President Tinubu’s recent visit to France, where TotalEnergies is exploring a $6 billion investment in Nigeria.
Despite the mounting speculation, legal experts argue that Kyari’s tenure may not be subject to a fixed term limit, citing the Petroleum Industry Act (PIA) 2021.
According to Section 59 (2) of the PIA, the composition of the NNPCL board and its leadership should comply with the Companies and Allied Matters Act (CAMA) and the company’s Articles of Association.
The PIA does not impose any specific age or tenure limits on the management of NNPCL, which leaves room for a potential extension or reappointment.
Kyari’s tenure as NNPCL’s GCEO has been marked by significant achievements, including the transition of the company from a public corporation to a limited liability company in July 2022. In this new role, Kyari has overseen the restructuring of the oil giant and has played a central role in negotiating deals that have benefitted the Nigerian economy.
Meanwhile, sources familiar with the situation reveal that Kyari has been actively lobbying for the four-month extension, utilising unconventional methods to garner support from key officials. His efforts are reportedly aimed at securing the necessary backing to remain in office while managing the sensitive transition period ahead.
One official close to the matter mentioned that Kyari’s influence was evident in the securing of loan deals, including the use of crude oil as collateral.
According to the official, this helped stabilise the foreign exchange market despite being outside NNPCL’s official mandate as a limited company.
With Kyari’s 60th birthday marking a critical juncture in his leadership, the future of NNPCL’s top management remains uncertain.
As political intrigue intensifies, the decision ultimately rests with President Tinubu, who has yet to make a public stance on whether he will grant the requested extension or seek a new leader for the oil corporation.
For now, all eyes remain on the Presidency as the dynamics surrounding Kyari’s tenure continue to unfold.
Petrol smugglers made N17m per truck under subsidy regime – Kyari
Meanwhile, TheRadar reported that the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari, said petrol smugglers made around N17 million from each petroleum truck supplied to neighbouring countries under the subsidy regime.
Kyari stated this on Monday, October 14, while addressing the media in Abuja about the government’s efforts to deregulate the oil and gas sector.
