President Bola Tinubu has dismissed Mele Kyari as Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), alongside Chairman Pius Akinyelure and other board members.

Bashir Bayo Ojularé, a former Shell Managing Director, has been appointed as the new head of NNPC, with fresh executive and non-executive board members also named.

The government says the move is aimed at reforming the oil sector amid declining production, which fell below one million barrels per day in 2023.

Officials hope the shake-up will restore investor confidence and drive the industry’s commercialization efforts.