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Breaking: Tinubu Restructures NNPC Board, Sack Kiari, Appoints Ojulari
By Admin
In a major shake-up of the Nigerian National Petroleum Company (NNPC) Limited, President Bola Tinubu has dismissed Group Chief Executive Officer (GCEO) Mallam Mele Kyari and Board Chairman Chief Pius Akinyelure, along with all board members appointed in November 2023.
This development was announced early Wednesday in a statement by presidential spokesman Bayo Onanuga. The statement revealed that a newly constituted 11-member board will now oversee the affairs of NNPC Limited, with Engineer Bashir Bayo Ojulari taking over as the Group CEO and Ahmadu Musa Kida assuming the role of Non-Executive Chairman.
Additionally, President Tinubu appointed Adedapo Segun, who replaced Umaru Isa Ajiya as the Chief Financial Officer last year, as a board member. The board also includes six non-executive directors representing Nigeria’s geopolitical zones: Bello Rabiu (North West), Yusuf Usman (North East), and Babs Omotowa, former Managing Director of Nigerian Liquefied Natural Gas (NLNG), representing North Central. From the southern regions, Austin Avuru (South-South), David Ige (South-West), and Henry Obih (South-East) were also named as non-executive directors.
Further, Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, and Aminu Said Ahmed from the Ministry of Petroleum Resources will represent their respective ministries on the board.
The statement emphasized that “all the appointments are effective today, April 2.” It also outlined Tinubu’s rationale for the restructuring, citing Section 59, subsection 2 of the Petroleum Industry Act, 2021. According to Onanuga, the move is aimed at “enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialisation and diversification.”
Furthermore, President Tinubu has tasked the newly appointed board with conducting a “strategic portfolio review of NNPC-operated and joint venture assets to ensure alignment with value maximisation objectives.”
Under Tinubu’s leadership, the federal government has been implementing major reforms in the oil sector to attract more investment. In 2023, NNPC recorded $17 billion in new investments, with the administration now aiming to increase that figure to $30 billion by 2027 and $60 billion by 2030.
The government also has ambitious targets for oil and gas production. The goal is to raise daily crude oil output to two million barrels by 2027 and three million barrels by 2030. Likewise, gas production is expected to reach 8 billion cubic feet per day by 2027 and expand further to 10 billion cubic feet daily by 2030.
Additionally, Tinubu has charged the new board with increasing NNPC’s crude oil refining capacity. “The new board is expected to elevate NNPC’s share of crude oil refining output to 200,000 barrels by 2027 and reach 500,000 by 2030,” the statement noted.
The newly appointed board chairman, Ahmadu Musa Kida, hails from Borno State. A graduate of Ahmadu Bello University, Zaria, with a degree in civil engineering, Kida also holds a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP) in Paris.
His career in the oil and gas industry began at Elf Petroleum Nigeria before moving to Total Exploration and Production as a trainee engineer in 1985. He later rose to the position of Deputy Managing Director of Deep Water Services at Total Nigeria in 2015. Last year, he became an Independent Non-Executive Director at Pan Ocean-Newcross Group.
Beyond his contributions to the oil sector, Kida is well-known in the sports community as a former basketball player and the President of the Nigerian Basketball Federation (NBBF).
Bashir Bayo Ojulari, the newly appointed NNPC Limited Group CEO, is from Kwara State. Before his appointment, he was the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. His recent efforts led a consortium of indigenous energy firms in the $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC).
Ojulari is also a graduate of Ahmadu Bello University, Zaria, with a degree in mechanical engineering. His career started at Elf Aquitaine, where he became the first Nigerian process engineer before transitioning to Shell Petroleum Development Company of Nigeria Ltd in 1991. Over the years, he worked in various roles in Europe and the Middle East, excelling as a petroleum process and production engineer, strategic planner, field developer, and asset manager.
In 2015, Ojulari was appointed Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO). He also served as chairman and a board trustee member of the Society of Petroleum Engineers (SPE Nigerian Council) and is a fellow of the Nigerian Society of Engineers.
President Tinubu expressed gratitude to the former NNPC board members for their contributions, particularly in overseeing the rehabilitation of the Port Harcourt and Warri refineries. Their efforts led to the resumption of petroleum product production after years of inactivity. He wished them success in their future endeavors.
Breaking
Senate Approves Tinubu’s $6bn External Loan Requests for Budget Support, Port Rehabilitation
By Favour Bibaikefie
The Nigerian Senate has approved President ’s request for two external loan facilities totaling $6 billion, aimed at supporting the 2026 budget and upgrading key maritime infrastructure across the country.
The approval followed the consideration of two executive communications earlier transmitted to the upper chamber and read during plenary by Senate President on Tuesday, March 31, 2026.
Breakdown of the facilities shows that the Federal Government secured a $5 billion loan from Abu Dhabi Bank to provide critical budgetary support. The fund is expected to help bridge fiscal gaps and enable the government meet pressing financial obligations.
The second facility, valued at $1 billion, is from Citi Bank, London, and is specifically designated for the rehabilitation and technical upgrade of Nigeria’s major seaports, including the Lagos Port Complex and Tin Can Island Port.
According to the presidency, the port modernisation initiative is designed to tackle longstanding operational inefficiencies, strengthen security, and boost non-oil exports. The government also aims to reposition Nigeria as a leading trade hub within the West African sub-region through improved port infrastructure.
Following deliberations, lawmakers gave their nod to the loan requests after reviewing the report of the Senate Committee on Local and Foreign Debts, chaired by Senator Aliyu Wammakko, which had earlier been mandated to examine the proposals.
Senate sources indicated that the approval was granted after assurances on the viability of the projects, expected economic returns, and the capacity of the government to manage the country’s debt profile responsibly.
The development marks a significant step in the Federal Government’s efforts to stabilise public finances and accelerate infrastructure renewal, particularly in the maritime sector, which remains a critical gateway for international trade and revenue generation.
As Iran strikes Kuwaiti vessel Al-Salmi
By Ezinne
Tensions in the Persian Gulf have reached a boiling point after a giant Kuwaiti crude oil tanker, the Al-Salmi, was hit by an Iranian drone strike while anchored off the coast of Dubai early Tuesday, March 31, 2026. The attack follows a fresh ultimatum from US President Donald Trump, who warned that the United States would “obliterate” Iran’s energy grid and oil infrastructure if the Strait of Hormuz is not immediately reopened.
The Al-Salmi, which was fully laden with approximately 2 million barrels of crude oil, was struck on its starboard side shortly after midnight, sparking a major fire. Dubai maritime authorities confirmed that firefighting teams successfully extinguished the blaze after an hours-long operation. While all 24 crew members were reported safe and no oil spill has yet been confirmed, the Kuwait Petroleum Corporation (KPC) condemned the incident as a “direct, heinous attack.”
This escalation comes as President Trump utilized social media on Monday to threaten the destruction of Iran’s Kharg Island oil hub, power plants, and desalination facilities if a ceasefire deal is not reached “shortly.” The conflict, which began in late February, has already pushed global oil prices above $100 a barrel and gasoline prices in the US past $4 a gallon. As the US and Israel continue missile strikes on military and nuclear infrastructure within Iran, Tehran has retaliated by targeting commercial shipping and regional energy plants, raising fears of a total collapse in global energy security.
By Favour Bibaikefie
Nigeria’s political landscape witnessed a significant shift on Monday as formally defected to the African Democratic Congress (ADC), a move widely seen as a strategic recalibration ahead of the 2027 general elections.
Kwankwaso, a former governor of Kano State and presidential candidate of the New Nigeria Peoples Party (NNPP) in the 2023 elections, officially registered with the ADC in Kano, marking the end of his association with the NNPP and signalling a new phase in Nigeria’s opposition politics.
The high-profile defection event attracted key political figures across party lines, underscoring growing momentum toward a broad-based coalition aimed at challenging the ruling party in 2027. Among those reportedly present or aligned with the unfolding political realignment are prominent opposition figures believed to be exploring a unified front.
Strategic Realignment Ahead of 2027
Political analysts say Kwankwaso’s entry into the ADC represents more than a routine party switch; it reflects an emerging convergence of opposition forces seeking to avoid the fragmentation that defined the 2023 presidential election.
In that election cycle, the opposition vote was split among multiple candidates, including Atiku Abubakar of the Peoples Democratic Party (PDP), Peter Obi of the Labour Party, and Kwankwaso himself under the NNPP platform—an outcome that ultimately benefited the ruling All Progressives Congress.
With less than two years to the next electoral cycle, Monday’s development suggests a deliberate effort to consolidate political strength, particularly in northern Nigeria where Kwankwaso commands a formidable grassroots following through his Kwankwasiyya movement.
ADC Emerges as Coalition Platform
The ADC, hitherto considered a minor political platform, is increasingly positioning itself as a potential coalition vehicle for opposition leaders seeking a neutral ground free from entrenched internal rivalries associated with older parties.
Observers note that Kwankwaso’s defection may trigger a domino effect, encouraging other political heavyweights to reconsider their affiliations as consultations intensify across the opposition spectrum.
There are also indications that talks are ongoing among leading political actors on the possibility of presenting a consensus presidential candidate in 2027—a strategy aimed at mounting a more formidable challenge to the incumbent administration.
Implications for the Ruling Party
For the APC, Kwankwaso’s move introduces a fresh layer of complexity to the evolving political equation. While the ruling party maintains a strong national structure and incumbency advantage, a united opposition could significantly alter electoral dynamics, particularly in battleground states across the North-Central and North-West regions.
Political commentators argue that the success of the emerging coalition will depend largely on its ability to manage internal ambitions, agree on power-sharing arrangements, and present a coherent policy alternative to Nigerians.
Looking Ahead
As political activities gradually build toward 2027, Kwankwaso’s defection to the ADC may well be remembered as a defining moment in the early stages of coalition politics in Nigeria’s Fourth Republic.
Whether this realignment translates into a viable electoral force remains to be seen, but one point is clear: the race to 2027 has begun in earnest, and the battle lines are already being redrawn.