Toba Owojaiye reportingÂ
Abuja, Nigeria
In a significant restructuring of the Nigerian National Petroleum Company Limited (NNPC Ltd.), newly appointed Group CEO, Bayo Ojulari has dismissed over 200 officials, including several top executives. This move marks Ojulari’s first major action since assuming leadership on April 4, 2025, following his appointment by President Bola Tinubu.
Truth Live News gathered that among those relieved of their duties are Bala Wunti, former head of the National Petroleum Investment Management Services (NAPIMS); Lawal Sade, the chief compliance officer, and Ibrahim Onoja, managing director of the Port Harcourt Refinery. These dismissals are part of a broader effort to overhaul the company’s leadership and operations.
In line with promoting diversity and inclusion, Ojulari has appointed Maryamu Idris as the new managing director of trading, responsible for overseeing crude oil transactions. She replaces Lawal Sade. Additionally, Obioma Abangwu has been named chief liaison officer to the NNPC management board.
Ojulari’s restructuring aligns with President Tinubu’s broader vision to revitalize Nigeria’s oil sector. The administration aims to increase oil production to two million barrels per day by 2027 and three million by 2030. Gas production targets are set at eight billion cubic feet daily by 2027 and ten billion cubic feet by 2030. Furthermore, the government seeks to enhance NNPC’s crude oil refining capacity to 200,000 barrels per day by 2027 and 500,000 by 2030.
The restructuring also involves a strategic portfolio review of NNPC-operated and joint venture assets to ensure alignment with value maximization objectives. This move is expected to attract investment, boost local content, drive economic growth, and advance gas commercialization and diversification,
The Energy Reforms Advocates (ERA) have praised the shake-up, viewing it as a courageous step toward reforming Nigeria’s oil sector and tackling entrenched corruption. They express optimism that under fresh leadership, NNPC can regain public trust and reposition itself as a driver of economic growth.
Similarly, the Energy Justice Forum (EJF) commended the administration for restoring the naira-for-crude policy, stating that the move benefits local refineries and the broader Nigerian populace. They urge the new NNPC leadership to align with the president’s reformist path and avoid past missteps.
As Ojulari continues to implement these reforms, the industry watches closely to see how these changes will impact Nigeria’s oil and gas sector.