Mallam Mele Kolo Kyari (L) Bows Out Of NNPC As President Bola Tinubu Appoints Engineer Bashir Bayo Ojulari (R), New GCEO
…Appoints Ojulari New GCEO, Kida Becomes Board Chairman
After about six years of meritorious service as the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kolo Kyari has bowed out of the state-owned oil firm following President Bola Tinubu’s reconstitution of the company’s board on Wednesday.
Kyari, a geologist and crude oil marketer who assumed office as GCEO on July 7, 2019, previously served as the Group General Manager of NNPC’s Crude Oil Marketing Division from 2015 to 2019 and as Nigerian National Representative at the Organisation of Petroleum Exporting Countries (OPEC).
Kyari has been instrumental in repositioning the NNPC Ltd. and turning it from a loss-making entity into a profitable company that has raked in over N6tn in profitability in the last four years.
From a loss position of N1.7bn in 2019, the management of the NNPC under Kyari’s leadership was able to reverse the trend by posting a profit of N287bn in 2020, N674.1bn in 2021, and N2.54tn in 2022 before hitting the current figure of N3.29tn in 2023.
He also spearheaded the rehabilitation of the Port Harcourt and Warri refineries, which commenced operation last year and guaranteed energy security for Nigerians.
