The Nigerian National Petroleum Company Limited (NNPCL) has dismissed speculations regarding the purported exit of Mele Kyari, its Group Chief Executive Officer (GCEO), in January 2025, labeling the claims as false.
Exclusively gathered by METROBLOG on Monday, NNPCL spokesperson Olufemi Soneye clarified that President Bola Ahmed Tinubu holds the final authority on Kyari’s tenure, as the Minister of Petroleum.
Recent reports suggested that Kyari, who turns 60 on January 8, 2025, might retire and be replaced by Bayo Ojulari. However, Soneye debunked these rumors, stating, “The man (Mele Kyari) has his time and tenure; the president has the final say. As the Minister of Petroleum, anything he wants to do, he will do. For us, it is to continue with our work and do it right.”
Soneye emphasized that NNPCL appointments are determined by expertise, skills, and the ability to deliver, not by ethnicity, religion, or other sentiments. “This is a global energy company. Appointments are based on professionalism. Gone are the days we prioritized sentiments. If we operate based on ethnicity or religion, we wouldn’t have international professionals like Dutch, American, and British managing directors in our businesses. Where Nigerians are qualified, they are given the chance to deliver,” he added.
Contrary to the retirement speculations, some stakeholders argue that Kyari’s tenure aligns with Section 59(2) of the Petroleum Industry Act (PIA) 2021, which mandates that appointments to the NNPCL Board comply with the Companies and Allied Matters Act (CAMA) and the company’s Articles of Association. His tenure is expected to end in 2027.
Kyari and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive Gbenga Komolafe are among the few appointees of former President Muhammadu Buhari to retain their positions under President Tinubu. Notably, in November 2023, President Tinubu reappointed Kyari to lead NNPCL, reaffirming his confidence in the GCEO.
The debate over appointments at NNPCL reignited recently when Nigerian-American journalism professor Farooq Kperogi accused President Tinubu of ethnic bias, comparing his approach to that of Buhari. In response, former Kaduna State Governor Nasir El-Rufai criticized Tinubu, urging him to embrace inclusivity over exclusion. Meanwhile, Tinubu’s spokesperson, Bayo Onanuga, dismissed El-Rufai’s remarks as unwarranted criticism.
In November 2024, NNPCL announced the appointment of Adedapo Segun as its Chief Financial Officer (CFO), replacing Umar Ajiya. Other key appointments included Isiyaku Abdullahi as Executive Vice President (EVP), Downstream, and Udobong Ntia as EVP, Upstream.
NNPCL transitioned from a public corporation to a limited liability company in July 2022, marking a significant shift in its operational structure and governance.
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