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Tinubu Names Akinyelure NNPC Board Chairman, Retains Kyari As Group CEO

The new Chairman has over 30 years working experience in the oil industry at executive levels, including at Mobil Oil Nigeria Plc.

Nigeria President Bola Tinubu has approved the appointment of a new Board and Management team for the Nigerian National Petroleum Company Limited with effect from December 1, 2023.

This is in compliance with Section 59 (2) of the Petroleum Industry Act, 2021.

Tinubu appointed Chief Pius Akinyelure, as the Chairman of the board while retaining Mallam Mele Kyari as the Group Chief Executive Officer.

 Before his appointment as Chairman – Akinyelure, an oil industry practitioner, who is a certified Accountant with a Master of Science Degree in Management – was a member of the board of the NNPC Limited.

The appointments come five months after the President dissolved the board of federal government’s agencies and parastatsals including that of the NNPC Limited

Before the President’s dissolution of board of federal government parastatals on June 19 this year, the board of the NNPC Limited was chaired by Mrs Margary Okadigbo who was appointed on January 5, 2022 by former President Muhammadu Buhari.

Akinyelure has over 30 years working experience in the oil industry at top management/executive levels, both Upstream and Downstream.

Prior to his retirement from Mobil Oil Nigeria Plc on June 1, 1997, he was the Executive Director, Finance and External Relations for the company.

He has been Chairman/Director of several companies/financial institutions in the past, which include but not limited to Wema Bank Plc, Odu’a Investment Limited, Oluwa Glass Plc, Okitipupa Oil Palm Plc, Odu’a Telecomunications Limited, Cocoa Industries Nigeria Ltd, Hallmark Bank and West African Portland Cement Plc.

He is also Chairman/Director in several other companies like King Guards Nigeria Ltd, Transnational Computer Technology, SPA dredging Company Limited, Pak Oil Marketing Limited, ACOP Properties Limited, Betta Consortium (Ikoyi Hotels) and CAT Construction Company Limited.

 Meanwhile Kyari’s retention as NNPC Limited GCEO is attributed to the confidence the President has in the reforms and programmes being implemented under his leadership.

Other Board Members include: 

 Alhaji Umar Isa Ajiya — Chief Financial Officer;

 Mr. Ledum Mitee — Non-Executive Director;

 Mr. Musa Tumsa — Non-Executive Director;

 Mr. Ghali Muhammad — Non-Executive Director;

 Prof. Mustapha Aliyu — Non-Executive Director;

Mr. David Ogbodo — Non-Executive Director and;

Ms. Eunice Thomas — Non-Executive Director.

According to a statement by presidential spokesman Ajuri Ngelale, “President Tinubu anticipates the fullest measure of compliance with the performance-driven and results-oriented mandate of his Renewed Hope administration in the implementation of energy policy that will monetize all available oil and gas resources of today while paving the way for the total exploitation of new and cleaner energy sources of tomorrow by this distinguished team.”

Demola Ojo