In a significant move, President Bola Tinubu has sacked Mele Kyari as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, effective April 2, 2025. This decision is part of a broader restructuring aimed at enhancing operational efficiency and restoring investor confidence in NNPC, okay.ng reports.
Bashir Bayo Ojulari has been appointed as the new GCEO, while Ahmadu Musa Kida takes over as the non-executive chairman. The move is supported by the Petroleum Industry Act (PIA) 2021 and includes the appointment of new non-executive directors from each geopolitical zone.
Mele Kyari’s removal as the GCEO of NNPC Limited is attributed to several factors:
- Fuel Price and Scarcity Issues: Persistent fuel scarcity and price hikes led to widespread criticism and public pressure for his removal.
- Allegations of Mismanagement and Sabotage: Lawmakers accused him of undermining President Tinubu’s agenda and mismanaging NNPC, leading to calls for his resignation.
- Economic Sabotage Allegations: Groups accused Kyari of economic sabotage due to issues with refinery maintenance and crude oil access for Dangote Refineries.
- Loss of Privileges: Some critics’ opposition may stem from the loss of privileges due to Kyari’s efforts to increase transparency and adhere to international standards.
