Nigeria appoints ex-Shell executive Bayo Ojulari as NNPC CEO

Nigerian President Bola Ahmed Tinubu has appointed Bashir Ojulari, a former executive at Shell, as the new Group CEO of the Nigerian National Petroleum Company (NNPC), replacing Mele Kyari. This management change is part of Tinubu's strategy to enhance oil production and improve local refining capabilities in Nigeria, Africa's largest crude oil producer. Alongside Ojulari's appointment, the president has restructured the NNPC board, selecting an 11-member team aimed at driving reforms and operational efficiency. Ojulari, who has extensive experience in the energy sector, previously served as the Chief Operating Officer at Renaissance Africa Energy Co. and led Shell's Nigeria Exploration and Production unit. The new board is tasked with conducting a strategic portfolio review to align operations with the goal of maximizing value. Tinubu emphasized that these changes are vital for restoring investor confidence and promoting economic growth in Nigeria's oil sector.