President Bola Ahmed Tinubu has approved the appointment of Engineer Bashir Bayo Ojulari as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), replacing Mallam Mele Kyari.
The announcement, made on Wednesday, is part of a broader restructuring of the NNPCL leadership, which also includes the removal of Chairman Chief Pius Akinyelure and all other board members appointed in November 2023. The overhaul aims to reposition the state-owned oil company for greater efficiency and transparency in Nigeria’s energy sector.
The newly constituted 11-member board will be led by Ahmadu Musa Kida as the Non-Executive Chairman, with Bayo Ojulari assuming the role of Group CEO.
Additionally, Adedapo Segun, who took over as Chief Financial Officer (CFO) from Umaru Isa Ajiya last year, will retain his position in the new board setup.
The new board also includes six non-executive directors, each representing a geopolitical zone in Nigeria:
- North West: Bello Rabiu
- North East: Yusuf Usman
- North Central: Babs Omotowa (former MD of Nigeria LNG)
- South South: Austin Avuru
- South West: David Ige
- South East: Henry Obih
Furthermore, Mrs. Lydia Shehu Jafiya, the Permanent Secretary of the Federal Ministry of Finance, will represent the Ministry of Finance, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
All appointments are set to take effect from April 2, 2025.
Who is Bayo Ojulari?
Engineer Bashir Bayo Ojulari, a seasoned oil and gas professional from Kwara State, brings over three decades of industry experience to his new role. His appointment signals a strategic shift aimed at leveraging his vast expertise to enhance the performance of NNPCL.
Prior to his appointment, Ojulari served as the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. Under his leadership, Renaissance led a $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC) through a consortium of indigenous energy firms, demonstrating his capability in managing high-stake transactions and driving industry growth.
Ojulari holds a degree in Mechanical Engineering from Ahmadu Bello University, Zaria. He began his professional journey with Elf Aquitaine, becoming the first Nigerian process engineer in the company. In 1991, he transitioned to Shell Petroleum Development Company of Nigeria Ltd, where he advanced through various technical and managerial roles.
His international experience extends across Europe and the Middle East, where he has held positions as a strategic planner, asset manager, field developer, and production engineer. In 2015, he was appointed Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO), a position in which he played a pivotal role in deepwater oil operations and offshore developments.
Beyond his corporate achievements, Ojulari has been an active contributor to industry development. He has served as Chairman and Board Member of the Society of Petroleum Engineers (SPE Nigerian Council) and is recognized as a Fellow of the Nigerian Society of Engineers.
With his appointment as GCEO of NNPCL, Ojulari is expected to bring innovative leadership, operational efficiency, and strategic reforms to Nigeria’s petroleum sector, ensuring its sustainability in the evolving global energy landscape.
