In a strategic move aimed at revitalizing the Nigerian National Petroleum Company (NNPC) Limited, President Bola Tinubu has appointed Engineer Bashir Bayo Ojulari as the new Group Chief Executive Officer (GCEO) of the company.
The announcement, made by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed that President Tinubu’s decision was made in line with Section 59, subsection 2 of the Petroleum Industry Act (PIA) of 2021.
This legal provision underlines the importance of restructuring NNPC’s board to foster improved operational efficiency, restore investor confidence, and strengthen the country’s energy sector by advancing gas commercialization, local content development, and broader economic diversification.
As part of the board restructuring, President Tinubu also made sweeping changes at the top, removing Pius Akinyelure, the Chairman of NNPC, and Mele Kyari, the former GCEO. Additionally, all board members appointed alongside Akinyelure and Kyari in November 2023 have been dismissed.
The newly restructured NNPC board now includes 11 members, with Engineer Ojulari at the helm as Group CEO and Ahmadu Kida taking on the role of Non-Executive Chairman.
A seasoned oil industry professional, Engineer Ojulari hails from Kwara State and brings a wealth of experience to the role. Prior to his appointment, Ojulari was the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company.
Under his leadership, the company spearheaded a significant achievement—the acquisition of the entire equity stake of Shell Petroleum Development Company of Nigeria (SPDC) for a remarkable $2.4 billion, in collaboration with a consortium of indigenous energy firms.
Ojulari’s career in the oil and gas sector spans several decades. He is an alumnus of Ahmadu Bello University, Zaria, where he earned a degree in Mechanical Engineering.
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His journey in the industry began with Elf Aquitaine, where he made history as the first Nigerian process engineer to work with the company.
He later joined Shell Petroleum in 1991 as an associate production technologist, eventually rising to become the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO) in 2015.
Throughout his career, Ojulari has held various senior positions across Europe, the Middle East, and Nigeria, excelling as a petroleum process and production engineer, strategic planner, field developer, and asset manager.
His leadership was also recognized through his roles as chairman and trustee of the Society of Petroleum Engineers (SPE Nigerian Council) and as a fellow of the Nigerian Society of Engineers.
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