NNPC welcomes new leadership

The Nigerian National Petroleum Company Limited (NNPC Ltd) has welcomed the appointment of a new Group Chief Executive Officer (GCEO), Bayo Ojulari, and a new Board of Directors for the company by President Bola Tinubu.

Olufemi Soneye, the chief corporate communications officer of NNPC Ltd, disclosed this in a statement on Wednesday afternoon.

“We extend our profound appreciation to the outgoing GCEO, Mr Mele Kyari, and the former Board Members for their selfless and dedicated service to the company and to the nation.

“Mr Kyari’s leadership and tireless efforts have left an indelible mark on NNPC Ltd., and we are sincerely grateful for his outstanding contributions. We wish him and all departing Board Members continued success and fulfilment in their future endeavours.” the statement said.

Earlier on Wednesday, Mr Tinubu sacked the board of the state-oil firm, including Mr Kyari and board chairperson Pius Akinyelure.

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The president also approved Mr Ojulari as the new GCEO of the company.

“President Tinubu also handed out an immediate action plan to the new board: to conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives,” presidential spokesperson Bayo Onanuga wrote in a Wednesday statement announcing the new appointments.

Mr Ojulari was appointed the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company in January 2024, a position he held until his new appointment as NNPC chief.