President Bola Tinubu has announced the appointment of new leadership in the Nigerian National Petroleum Company Limited (NNPCL), following the sacking of its immediate leader, Mele Kyari and other board members.
Bayo Onanuga, President Tinubu’s special adviser on information and strategy, announced the development in a statement in the early hours of Wednesday, April 2, adding that the appointment covered both the executive and non-executive directors of the Nigerian oil firm.
Tinubu appoints Ojulari as new NNPC GCEO
According to the statement, Tinubu has appointed Bayo Ojulari as the new Group Chief Executive Officer of NNPC Limited. The president also announced the appointment of Adedapo Segun, who took over the role of chief financial officer from Umaru Isa Ajiya last November, as a member of the board.
President Tinubu also approved the appointment of Mrs Lydia Shehu Jafiya, the permanent secretary of the Federal Ministry of Finance, to represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
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The presidency also announced that Tinubu appointed six board members, who are non-executive directors, to represent each of the country’s geopolitical zones. These non-executive directors are:
S/N Name Region
1 Bello Rabiu North West
2 Yusuf Usman North East
3 Babs Omotowa North Central
4 Austin Avuru South South
5 David Ige South West
6 Henry Obih South East
NNPC ended crude in Naira sale to Dangote
This came amid the growing controversy between the NNPC Limited and Dangote Refinery, a major privately owned refinery in Nigeria. The NNPCL earlier agreed to sell Nigeria’s crude oil to the refinery in naira, with the hope of stabilizing the naira and reducing fuel price in Nigeria.
However, the deal ended a month ago, and the two companies could not renew the contract, which has led to an increase in the price of fuel, and retailers now import fuel rather than buying from Dangote, as Dangote also sells in dollars following the end of the deal.
Recall that Dangote had earlier accused the NNPCL leadership of a plot to sabotage his business and continue to import substandard fuel from Malta
