Nigerian National Petroleum Company (NNPC) Limited has announced the formation of a new senior management team consisting of eight members.
Gatekeepers News reports that this development follows the recent appointment of the group chief executive officer (GCEO) and board of directors by President Bola Tinubu.
In a statement released on Friday, NNPC spokesperson Femi Soneye revealed that the newly appointed team will be led by Bayo Ojulari, the GCEO of NNPC.
The team includes several key positions: Rowland Ewubare has been appointed as the group chief operating officer, while Adedapo Segun takes on the role of group chief finance officer.
Additional members of the team are Olalekan Ogunleye, who will serve as executive vice-president for gas, power, and new energy; Udy Ntia, appointed as executive vice-president for upstream operations; Mumuni Dagazau, who will act as executive vice-president for downstream operations; Sophia Mbakwe, serving as executive vice-president for business services; and Adesuwa Dozie, who will serve as company secretary and chief legal officer.
Following their appointment on April 2, the new board has been given ambitious objectives, including increasing NNPC’s share of crude oil refining output to 200,000 barrels per day by 2027 and aiming for 500,000 barrels per day by 2030.
“This restructuring is aimed at repositioning NNPC Limited for greater productivity and efficiency in line with global best practices. We are taking bold steps to transform the company into a more commercially driven and transparent entity,” the statement reads.
The government also aims to raise crude oil production to two million barrels daily by 2027 and three million by 2030, alongside a gas production goal of eight billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.
