Tinubu Shakes Up Oil Sector: Sacks Kyari, NNPCL Board Citing Poor Performance and Lack of Transparency – Officials
ABUJA, NIGERIA – In a dramatic move signaling a potential overhaul of the nation’s crucial oil and gas sector, President Bola Ahmed Tinubu has reportedly sacked Mele Kyari as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), along with the entire board, according to top government officials.
While no official statement has been released by the Presidency or NNPCL, multiple sources within the government, speaking on condition of anonymity, revealed to Tv Platinum that the sackings are a direct consequence of concerns over poor performance, lack of transparency, and misalignment with the new administration’s vision for the petroleum industry.
“The President was deeply concerned about the operational inefficiencies and lack of accountability within the NNPCL,” one senior official disclosed. “There were persistent issues of fuel scarcity, declining oil production figures, and a general lack of transparency in the company’s dealings. This administration is committed to accountability and efficiency, and the previous leadership was simply not delivering.” Another source pointed to specific grievances regarding the NNPCL’s handling of subsidy removal and its preparedness for the transition.
“There were questions about preparedness, communication, and frankly, the overall strategy in ensuring a smooth transition after subsidy removal,” the official stated. “The President wants a team in place that is proactive, transparent, and fully aligned with his economic reform agenda.”
Performance Under Scrutiny: Mele Kyari, who had been at the helm of NNPCL since 2019 (and previously as Group Managing Director of the Nigerian National Petroleum Corporation – NNPC), oversaw a period marked by both challenges and notable events.
While NNPCL transitioned into a commercially focused limited liability company under the Petroleum Industry Act (PIA) during his tenure, the oil sector continued to grapple with persistent issues such as: Declining Oil Production: Nigeria has struggled to meet its OPEC production quota, hampered by crude oil theft, pipeline vandalism, and underinvestment. Refinery Inefficiency: Despite promises of rehabilitation, Nigeria’s refineries have remained largely dysfunctional, forcing heavy reliance on imported fuel.
Fuel Scarcity: Recurring fuel scarcity issues have plagued the nation, causing hardship for citizens and disrupting economic activities.
Transparency Concerns: Despite the PIA aiming for greater transparency, questions have persisted about the operations and contracts within the NNPCL. New Direction for NNPCL? The sudden dismissal of Kyari and the board suggests President Tinubu is seeking a clean break and a fresh start for the national oil company.
Officials hint that the President is looking for individuals with proven track records of competence, integrity, and a commitment to transparency to lead NNPCL. “The President’s focus is on maximizing the potential of the oil and gas sector for the benefit of all Nigerians,” a source emphasized. “He needs a leadership team that can drive efficiency, curb corruption, attract investment, and ensure energy security for the nation.”
Reactions and Uncertainty: The news of the sackings has sent ripples through the oil and gas industry, with analysts predicting a period of uncertainty and anticipation as the government prepares to announce new leadership. Industry experts are watching closely to see who Tinubu will appoint to steer the NNPCL and how this leadership change will impact ongoing projects, investment decisions, and the overall direction of Nigeria’s energy sector.
While the specifics of the new appointments remain unclear, the message from the presidency is loud and clear: President Tinubu is taking a firm stance on performance and accountability within the oil sector and is poised to implement significant changes to ensure the nation’s oil wealth benefits all Nigerians. Tv Platinum will continue to follow this developing story and provide updates as more information becomes available.
Tolu Adebayo
Reporter/Social Media Manager