The new leadership at the Nigerian National Petroleum Company Limited (NNPCL) has dismissed the managing directors of its three main refineries.
These include the heads of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company.
In addition to the refinery heads, several other senior NNPCL officials were let go, including Bala Wunti, the former chief of National Petroleum Investment Management Services (NAPIMS), a key subsidiary.
Management also compelled staff who were less than a year from retirement to exit early.
Although the company’s spokesperson, Olufemi Soneye, did not respond to inquiries, credible internal sources confirmed the sweeping changes made by the new leadership.
Earlier this month, President Bola Tinubu dismissed Mele Kyari as NNPCL’s Group CEO, along with board members, in a major leadership overhaul aimed at revitalizing Nigeria’s oil and gas sector. Kyari had led the company since 2019.
Presidency insiders cited underperformance and the inability to meet production benchmarks as key reasons for Kyari’s removal. They argued that previous leadership was stagnating progress and had, in some cases, become obstacles to reform.
One top official noted that the shake-up was necessary to inject fresh ideas and energy, emphasizing that the new appointees were seasoned professionals with deep industry knowledge, not political figures.
Another senior source clarified that the changes had nothing to do with age or civil service rules, as NNPCL operates as a limited liability company. He said the President expects the new team to drive results, including increasing crude production to 2 million barrels daily by 2027 and hitting 3 million by 2030, along with a gas output target of 10 billion cubic meters by 2030.
He explained that previous leaders failed to deliver on these expectations, making reform inevitable. The country’s OPEC quota has remained stagnant for decades, and efforts to meet it have consistently fallen short.
Following the changes, Tinubu appointed a new 11-member board, naming Bayo Ojulari as Group CEO and Musa Ahmadu-Kida as non-executive chairman.
Ojulari, from Kwara State, previously served as Executive VP and COO of Renaissance Africa Energy. His firm recently led a $2.4 billion acquisition of Shell’s Nigerian operations.
Discussing the refinery shake-up, a company insider revealed that the refinery MDs had been relieved of their duties, along with several other managers.
Another source confirmed that Bala Wunti was affected and added that Maryam Idrisu had been appointed as MD of NNPC Trading, the entity overseeing crude sales.
Although the company has not issued a formal statement, insiders attribute the dismissals to continued poor refinery performance.
A recent report by The PUNCH highlighted the failed $897 million Warri refinery overhaul and noted that the Port Harcourt refinery has been operating at less than 40% capacity.
Industry experts have criticized NNPCL for a lack of transparency and operational efficiency, raising concerns about its ability to manage the country’s refining assets effectively.
source: punchng.com
African Energy Council