Power play signals change in Nigeria

With a new board appointed to lead NNPC and moves by President Tinubu to exert control in the Delta region, there is renewed hope the country will be able to turn the corner and rebuild production to former peaks

Newly installed CEO of Nigerian National Petroleum Company (NNPC), Bashir Bayo Ojulari, has pledged to attract $60b and hike crude output to 3m b/d by 2030 as part of a firm commitment by the country’s leadership to reassert control over its oil and gas sector and double down on reform.    Early April saw the replacement of the state energy company’s management with a new, experienced team that includes former Shell executive Ojulari, replacing sitting CEO Mele Kyari and ten other members of the board. With the new NNPC leadership confronted by multiple challenges, this is a critical period for Nigeria’s oil and gas sector.  President Bola Tinubu said the overhaul of the board was necessary