The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari, has removed the Managing Directors of the company’s three refineries in Kaduna, Port Harcourt, and Warri.
It was gathered that the three MDs were removed as part of efforts to halt the continued value erosion in Nigeria’s refining sector.
This is coming a few days after Ojulari carried out sweeping changes in the NNPC Limited management team, with the removal of over 200 officials.
It was further gathered that the removal of the three managing directors, which takes immediate effect, marks a significant first step in what Ojulari described as a broader initiative to assess the true state of NNPC’s refineries and to explore the most efficient management models.
Ojulari sacks over 200 NNPC officials
The primary objective of the restructuring is to halt the ongoing loss of value in the short term and to develop a credible, long-term strategy that will restore and maximise value for the nation.
As part of the restructuring process, Ojulari has also inaugurated a high-level assessment team led by the Executive Vice President, Downstream, Mumuni Dagazzau.
The team is mandated to embark on an immediate operational assessment tour of all NNPC Limited refineries to determine their current status and provide recommendations.
President Bola Tinubu had, on April 2, 2025, appointed an 11-man board for the NNPC Limited with Ojulari as the GCEO.
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