Nigerians woke up on Wednesday to hear of a mildly shocking news that President Bola Tinubu has removed Malam Mele Kyari as Group Chief Executive Officer, CEO of the Nigerian National Petroleum Company (NNPC) Ltd and appointed Mr Bayo Bashir Ojulari as his replacement.
The action is regarded as part of the long expected sweeping change at the oil company that also included the reconstitution of the Chief Pius Akinyelure led board.
The appointment of Ojulari will not be news to many as there have been speculations for some months now that he is the President’s preferred candidate for the post.
A statement by Bayo Onanuga, a presidential spokesperson said the restructuring of the Board of NNPC Ltd was crucial for enhancing operational efficiency, and restoring investor confidence in the Nigeria’s oil and gas sector.
Onanuga’s statement added that ”it would also boost local content, drive economic growth, and advance gas commercialisation and diversification.
”The President 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.
”President Tinubu also tasked the new board to elevate NNPC’s share of crude oil refining output to 200,000 barrels by 2027 and reach 500,000 by 2030.”
Expectedly, the question that will be on most, if not all Nigerians’ mind is: Who is Bayo Ojulari and why is the President confident that he can drive the new board to achieve these goals he set for for the NNPCL Ltd in the oil industry?
NEW DAILY PRIME unearthed these 10 compelling facts about the new sheriff in NNPC kingdom.
- Bayo Ojulari, the new NNPC Ltd. Group CEO, is a Nigerian of Kwara State extraction.
- Until his new appointment, he was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company.
- Renaissance Africa Energy Company under the leadership of Ojulari recently led a consortium of indigenous energy firms in the landmark acquisition of the entire equity holding in the Shell Petroleum Development Company of Nigeria (SPDC), worth 2.4 billion dollars.
- Bayo Ojulari is an alumnus of Ahmadu Bello University, Zaria.
5, He graduated with a degree in Mechanical Engineering.
- Bayo Ojulari worked for Elf Aquitaine as the first Nigerian process engineer to begin a stellar career in the oil sector.
- From Elf, he joined Shell Petroleum Development Company of Nigeria Ltd in 1991 as an associate production technologist.
- Apart from working in Nigeria, Bayo Ojulari worked in Europe and the Middle East in different capacities as a petroleum process and production engineer, strategic planner, field developer, and asset manager.
- Ojulari worked at Shell for over 24 years and In 2015, he became the managing director of Shell Nigeria Exploration and Production Company (SNEPCO).
- Ojulari established the BAT Advisory and Energy Company Nigeria Ltd in September 2021, a company providing consultancy services to firms in the oil and gas/energy sector.
