NNPC board reshuffle by Tinubu ignites debate in Nigeria's oil sector​.

• President Tinubu’s determination to sack NNPC Limited’s CEO Mele Kyari and dissolve the committee has drawn mixed reactions from many
• While immoderate manufacture experts person criticised the action, others person intelligibly seen it timely determination to refresh the lipid sector
• They, however, urged the caller enactment to enactment committed to reforms, informing that occurrence depends connected wide regulations and semipermanent readying

Legit.ng writer Victor Enengedi has implicit a decade's acquisition covering Energy, MSMEs, Banking, Tech and the Economy.

The removal of NNPC Limited's management, including its Group CEO Mele Kyari, has sparked mixed reactions—some radical enactment it, portion others knock the decision.

On Wednesday, April 2, 2025, President Tinubu dismissed Kyari and dissolved the full committee of the company.

Presidential spokesperson Bayo Onanuga explained that the shake-up was indispensable to amended however the institution operates, pull investors, summation section involvement, turn the economy, and grow state accumulation and usage.

NNPC: Experts respond to Tinubu's sack of Kyari, assignment of Ojulari
Source: Twitter

After Kyari’s dismissal, President Tinubu appointed a caller 11-member board. Bashir Ojulari was named the caller Group CEO, portion Ahmadu Kida became the non-executive chairman.

Experts person shared antithetic opinions astir the caller enactment successful interviews.

Kyari had worked astatine NNPCL for implicit 30 years earlier helium was fto go. When helium turned 60 successful January 2025, immoderate radical called for his removal, but the president ignored the calls and kept him on—until now.

Mr. Olabode Sowunmi, an adept successful lipid and gas, described the determination arsenic a astute program to bring caller vigor and absorption to the industry.

Sowunmi, who is the CEO of Cabtree, supported the changes and pointed retired that NNPC Ltd. is simply a constricted liability company, with the Federal Government being its main owner.

He said:

“It is simply a calculated effort to enactment immoderate beingness and vigor into the industry. It is expected that this volition mean caller thinking, caller focus, and much results.”

Economist Yushau Aliyu said the timing of the changes was right, particularly with the IPO moving forward. But helium emphasized that the process should beryllium handled professionally, taking into relationship the changing lipid marketplace and whether radical are acceptable to invest.

He stated:

“The IPO indispensable beryllium professionally determined by relating to the improvement successful the lipid marketplace arsenic good arsenic the willingness of the wide public. Investment imaginable with the economical maturation targets of Nigeria 2030 should besides beryllium considered.”

He besides pointed retired that, nether the Petroleum Industry Act (PIA 2021), the President has the powerfulness to region some the NNPC Ltd. committee and its CEO.

Dr. Sand Mba-Kalu, different expert, said that Nigeria’s lipid and state assemblage needs to beryllium stable, travel wide rules, and instrumentality to the instrumentality successful bid to pull semipermanent concern and bring existent change.

He added that the caller enactment changes mightiness beryllium portion of a bigger strategy to assistance Nigeria scope its goals for lipid accumulation and refining by 2027 and 2030.

He said:

“This determination represents a bold inaugural wrong the larger model of aiming to conscionable our nationalist accumulation and refining targets successful the vigor assemblage by 2027 and 2030.”

Economist Lawrence Nze raised concerns astir immoderate of the policies introduced during Kyari's clip successful charge, saying they didn’t lick large problems successful the lipid industry. He mentioned the "Naira for crude" policy, which, according to him, didn’t truly bring down prices arsenic expected.

Nze besides said the Dangote Refinery had started to little the terms of substance sold from depots, which mightiness person helped trim the outgo astatine substance stations. However, the authorities abruptly stopped that progress.

He said:

“To me, it looks similar a sabotage against the people. Why tin we not halt importation? It means that determination is simply a woody that idiosyncratic oregon a radical of radical are benefiting from.”

NNPC: Experts respond to Tinubu's sack of Kyari, assignment of Ojulari
Source: UGC

The Crude Oil Refiners Association of Nigeria (CORAN) said that during Kyari’s clip arsenic CEO, respective changes were made that helped the lipid manufacture grow.

CORAN’s Publicity Secretary, Mr. Iche Idoko, told Daily Sun that Kyari’s removal wasn’t surprising, arsenic his clip successful bureau had simply travel to an extremity aft the enactment helium had done.

He said:

“We person seen respective NNPC bosses travel and go. His sack signifies that the powers that beryllium look to person been good with his publication to the manufacture this acold and it was clip for him to leave.”

The radical besides encouraged the caller CEO, Ojulari, to transportation connected with the reforms, saying the manufacture present needs beardown and visionary leadership.

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Source: Legit.ng