Tinubu Restructures NNPC, Targets 2M Barrels by 2027

President Bola Tinubu has undertaken a significant restructuring of the Nigerian National Petroleum Company Limited (NNPCL) by removing Chairman Pius Akinyelure and Group Chief Executive Officer Mele Kyari, alongside other board members. Bashir Bayo Ojulari, a former Shell executive with over three decades of experience, has been appointed as the new Group CEO. This overhaul aims to enhance NNPC's operational efficiency, restore investor confidence, and increase Nigeria's oil production to two million barrels per day by 2027. Ojulari's appointment is part of broader reforms targeting the challenges of corruption, pollution, and inefficiencies that have long plagued Nigeria’s oil sector. The new board, effective from April 2, 2025, includes representatives from various geopolitical zones to drive diversity and economic growth. The restructuring aligns with Tinubu's strategy to boost local content and advance gas commercialization and diversification.