News
BREAKING: Tinubu Sacks NNPCL Board , Replaces Mele Kyari with Bashir Ojulari as Group CEO
The new 11-man board has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman,” the statement reads.Adedapo Segun, who replaced Umaru Ajiya as the chief financial officer last November, has been appointed to the new board.
President Bola Tinubu has sacked Mele Kyari as the group chief executive officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited and dissolved the board.
Consequently, the President appointed Bashir Ojulari as the new CEO, effective from April 2, 2025.
Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, revealed the development in a statement he signed in the early hours of Wednesday titled, ‘President Tinubu reconstitutes NNPC limited board, appoints new Chairman, Group CEO.’President Tinubu removed all other board members appointed with Akinyelure and Kyari in November 2023.
The new 11-man board has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman,” the statement reads.Adedapo Segun, who replaced Umaru Ajiya as the chief financial officer last November, has been appointed to the new board.
Six board members, non-executive directors, represent the country’s geopolitical zones.
They are Bello Rabiu representing the North West, Yusuf Usman representing the North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas, who represents North Central.“
President Tinubu also appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.“Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Ahmed will represent the Ministry of Petroleum Resources,” Onanuga stated.
All the appointments are effective today, April 2.
President Tinubu, invoking the powers granted under Section 59, subsection 2 of the Petroleum Industry Act, 2021, emphasised that the board’s restructuring is crucial for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialisation and diversification.
He also handed out an immediate action plan to the new board “to conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives.
”Since 2023, the Tinubu administration has implemented oil sector reforms.Onanuga said that in 2024, NNPC reported $17bn in new investments within the sector.
“The administration now envisions increasing the investment to $30bn by 2027 and $60bn by 2030.
“The Tinubu administration targets raising oil production to two million barrels daily by 2027 and three million daily by 2030.
“Concurrently, the government wants gas production jacked to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030,” he explained.
News
Senate confirms Oyedele as minister
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
The Senate has confirmed the nomination of Taiwo Oyedele as Minister of State for Finance.
His confirmation comes after two hours of screening as lawmakers grilled him on various aspects of the economy.
Oyedele’s screening followed a motion moved by Opeyemi Bamidele, the Senate leader, after he called for the suspension of the Senate rule to allow strangers to come into the chamber.
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
Oyedele was escorted to the chamber by Bashir Lado, the Special Adviser to the President on the National Assembly ( Senate), alongside others.
His screening followed President Bola Tinubu’s letter to the Senate on Tuesday, requesting his confirmation as a minister.
Tinubu had, on March 3, nominated Oyedele, who currently serves as chairman of the presidential committee on fiscal policy and tax reforms, as Minister of State for Finance.
News
Tinubu appoints Lamido Yuguda as CBN’s Deputy Governor
Lamido Yuguda’s last public post was as director-general of the Securities and Exchange Commission, a position he held from 2020 to 2024.
PRESIDENT Bola Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN)
The appointment is in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007.
This was disclosed on Wednesday by the presidential spokesman, Bayo Onanuga.
The President charges Yuguda to discharge his responsibilities with renewed dedication, professionalism, and commitment to Nigeria’s economic stability and growth.
Lamido Yuguda’s last public post was as director-general of the Securities and Exchange Commission, a position he held from 2020 to 2024.
He is an alumnus of Ahmadu Bello University, where he graduated in 1983 with a B.Sc. in Accountancy.
In 1991, he obtained a master’s degree in Money, Banking and Finance from the University of Birmingham, United Kingdom.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a CFA charterholder.
He began his career in 1984 at the Central Bank of Nigeria (CBN) as a Senior Supervisor in the Foreign Operations Department.
He also worked as an economist in the Africa Department of the International Monetary Fund from 1997 to 2001, when he returned to the CBN.
He retired from the CBN in 2016, after he had served as Director of the Reserve Management Department for six years.
News
JUST IN: IGP Disu Assigns Portfolios to New DIGs
DIG Zachariah Fera Achinyan has been deployed to Legal Services, DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.
The Inspector-General of Police (IGP) Olatunji Disu has assigned the new Deputy Inspectors -General of Police (DIGs) their duties responsibilities.
Sources said that the DIGs were assigned departments based on their areas of competence.
DIG Zachariah Fera Achinyan has been deployed to Legal Services,
DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.
Similarly, DIG Margaret Agebe Ochalla has been posted to the Force Criminal Investigation Department (FCID);
DIG Mohammed Abdul Sulaiman to Finance and Accounts; DIG Kenechukwu Onwuemelie will oversee the Force Intelligence Department (FID); DIG Fayoade Adegoke will head Information and Communication Technology, while DIG Umar Shehu Nadada has been posted to Operations departments.
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