- There were rumours surrounding the plans to replace Mele Kyari, the current Group Managing Director of NNPCL, with Bayo Ojulari, a former Managing Director of SNEPCo, and Ahmadu Musa Kida to replace Chief Pius Akinyelure as Chairman of the NNPCL Board
- However, the presidency has denied an NNPCL shake-up
- Some individuals are reportedly sponsoring media reports to justify anticipated appointments, allegedly after collecting money from hopeful candidates
Reports have surfaced suggesting that President Bola Ahmed Tinubu is planning a major shake-up in the leadership of the Nigerian National Petroleum Company Limited (NNPCL), with speculations about the replacement of Group Chief Executive Officer (GCEO, Mele Kyari.
This comes as some industrial stakeholders believe that Kyari, who turned 60 years on January 8, 2025, may retire from service and be replaced with one Bayo Ojulari. However, fresh information from presidency sources indicates that these claims are unsubstantiated.
Bayo Ojulari, a former Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo), was being considered to take over from Kyari. Similarly, Ahmadu Musa Kida, a respected oil and gas executive and former Deputy Managing Director of Total Oil, was rumoured to be replacing Chief Pius Akinyelure as Chairman of the NNPCL Board.
However, a high-ranking presidency source, who spoke anonymously, dismissed these reports, stating that President Tinubu is not considering any immediate changes in the management or board of the state-owned oil giant.
"It is not in the character of Mr. President to treat badly the people he has shared long-standing relationships with. The Board Chairman of NNPCL is his long-term ally," the source revealed.
“In fact, the president refers to him as his boss, given their history dating from his Mobil Oil days. Besides, His Excellency is comfortable with the strides made under the leadership and guidance of Chief Akinyelure and the NNPCL Board."
The source further described as “Laughable” the claim that Roland Ewubare, who previously resigned from NNPCL, was set to return as Group Chief Operating Officer (COO).
"It is even laughable to read that the man Roland, who resigned from NNPC back then, will be COO when there is no position like that in the new NNPCL. Roland is a very competent hand, but he has left the system," the source added.
NNPCL leadership remains intact
Mele Kyari, who previously served as Group Managing Director (GMD) under the former NNPC structure, was officially appointed as GCEO of the new NNPCL under the Companies and Allied Matters Act (CAMA) by former President Muhammadu Buhari. His tenure was recently renewed by President Tinubu in November 2023, reinforcing his mandate to lead the company.
Additionally, the Petroleum Industry Act (PIA) stipulates clear terms of engagement for NNPCL leadership, making abrupt changes highly unlikely. Section 59 (2) of the Petroleum Industry Act 2021, which states that, “The composition of the Board of the NNPC Limited shall be determined in accordance with the Companies and Allied Matters Act and its Articles of Association.”
Power brokers allegedly cashing in on speculations
Despite the presidency’s insistence that no changes are imminent, sources indicate that certain individuals close to the corridors of power have been leveraging the rumours for financial gain.
“Some persons who have the ears of the President have been cashing out from those with interests in joining NNPCL’s management and board,” a source disclosed.
These individuals are reportedly sponsoring media reports to justify anticipated appointments, allegedly after collecting money from hopeful candidates.
"If the President is going to ever tamper with the board of NNPCL, it won’t be on the pages of newspapers and online, but announced officially by the senior media aide," the source concluded.
For now, NNPCL’s leadership remains unchanged, and any future developments will come directly from official government sources.
Full list: Mele Kyari and all the group managing directors of NNPC from inception till date
Meanwhile, TheRadar previously reported the full list of Group Managing Directors of NNPC from inception till date. NNPC was established in 1977 and 19 phenomenal individuals have spearheaded the organisation as Group Managing Directors.
The current Group Managing Director of NNPCL is Mele Kyari and he was appointed in 2019. The assumption of position as the Group Managing Director is usually by appointment based on the approval of the president.
