The presidency has revealed that the reason President Bola Tinubu dismissed Mele Kyari and other Nigerian National Petroleum Company (NNPC) Limited board members was due to their underperformance and failure to meet key production targets.
Tinubu, in an abrupt move on Wednesday, announced sweeping changes at the NNPC, including the dismissal of Kyari as the Group Chief Executive Officer (GCEO).
This decision, effective April 2, 2025, is part of the government’s strategy to enhance the operational efficiency of the oil giant and restore investor confidence.
READ ALSO: Tinubu Sacks Mele Kyari as NNPC Group CEO, Appoints Bayo Ojulari
Tinubu consequently appointed Bashir Ojulari as the new Group CEO, effective from April 2, 2025.
Multiple Presidency officials who spoke with Punch on the developments said the shake-up was a performance-based reshuffle, arguing that those previously in charge were going in circles and some had become part of the problem rather than the solution.
The source said, “The President did this because of their performance because we needed to do things differently. The former people were taking us in circles, and then some of them became part of the problem.
“There needs to be a new direction. You need new people to bring new energy into the system.
“Look at them. Every one of them is capable. They are core industry professionals, real industry experts who know the industry inside and out. They are not politicians. This is the first time we have an entire cast of technocrats.”
Another official clarified that it was not about Kyari’s age but the president’s performance metrics and he believes new blood was essential to jump-start production growth.
The official said, “It is not about Kyari’s age. The NNPCL is a limited liability company and is not governed by civil service rules. So, it’s not about his age. There is always a need to get new brains that can deliver in new directions. The President has his mandate, which is clearly stated in the statement. He gave them his performance metrics, such as the amount of crude we produce. He asked them to review all blocks because we want to know which ones are producing and which are not.
“We have to optimise those that are not producing. He wants them to review all our assets within a certain period and give us good production. By 2030, they must be producing 3,000,000 barrels per day, and between now and 2027, we must stabilise at 2,000,000 per day. Then, gas, we must produce 10 billion cubic meters between now and 2030. These are performance metrics, and that is how it should be done.
“But the former system was not giving us that. They have been around the same spot for years. Our OPEC quota has not improved much since 1973. We have not been able to meet them. That is why reforms are important.”
