LAGOS, Nigeria — The fresh management of the Nigerian National Petroleum Company Limited (NNPCL) don sack the managing directors of three key refineries for serious reforms. This shakeup affect the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and the Kaduna Refining and Petrochemical Company. The restructuring also touch some senior officials, including Bala Wunti, former chief of the National Petroleum Investment Management Services.
Discussions about this development came after President Bola Tinubu remove former NNPCL Group CEO, Mele Kyari, and other board members on April 2, 2025, as part of a major overhaul to improve Nigeria’s crude and gas production outputs. Sources inside NNPCL confirmed that this move was necessary due to poor performance and failure to meet production targets.
According to a source who speak on condition of anonymity, “The President do this to change the game. The people wey dey manage before no fit deliver. We need new brains with new ideas to turn things around.” The informant went further to express confidence in the new team, saying they are experienced professionals who understand the industry deeply.
Another insider noted that the overhaul was not due to Kyari’s age, emphasizing that NNPCL operates as a limited liability company without civil service constraints. “We dey need fresh energy and experts to improve production. The President get clear targets, for example, we must produce 3 million barrels of crude daily by 2030,” the source stated.
The President’s new board includes Bayo Ojulari as Group CEO and Musa Ahmadu-Kida as the non-executive chairman. Ojulari previously served as Executive Vice President at Renaissance Africa Energy Company. His recent successful acquisition of Shell Petroleum Development Company‘s assets worth $2.4 billion shows his capacity to manage significant industry projects.
Reports also confirm that the refineries under NNPCL management have not performed well, with the Warri refinery shut down for safety issues and consumers complaints of limited outputs. An April 2025 report revealed that the refineries fail to meet operational standards, particularly the $897 million Warri refinery upgrade that fell short of expectations.
Experts and industry operators have expressed concern over NNPCL’s management efficiency. The struggles of the Port Harcourt refinery, reportedly operating below 40% capacity since November 2024, illustrate the urgent need for reform.
