….Production Targets Set for 2027 and 2030
By Douglas Maha
The Nigerian National Petroleum Company Limited (NNPCL) has dismissed the managing directors of its three major refineries — Port Harcourt, Warri, and Kaduna — in a sweeping overhaul designed to reset Nigeria’s struggling oil and gas sector.
This decisive move follows President Bola Tinubu’s recent removal of NNPCL’s former Group Chief Executive Officer, Mele Kyari, amid mounting concerns over the company’s underperformance and inability to meet oil production targets.
Industry sources confirmed the exit of the three refinery heads along with several senior executives, including Bala Wunti, former head of the National Petroleum Investment Management Services (NAPIMS). Many officials nearing retirement were also let go as part of the restructuring.
The shake-up signals a shift toward performance-driven leadership under newly appointed NNPCL CEO Bayo Ojulari, a veteran energy executive formerly with Renaissance Africa Energy. Ojulari now leads an 11-member technocrat-led board tasked with reviving the national oil company’s efficiency and output.
The Tinubu administration has issued aggressive production targets to the new NNPCL leadership. The company is expected to hit 2 million barrels per day by 2027 and 3 million barrels by 2030. On the gas front, NNPCL must produce 10 billion cubic meters by 2030.
“The President has set clear performance metrics,” said a senior government official. “This isn’t about age or politics. It’s about getting results.”
The overhaul comes amid public and industry frustration over the failed multi-billion-dollar refinery rehabilitation efforts. Despite spending over $897 million on the Warri Refinery, it was shut down in January 2025 due to critical equipment failure, less than a month after being declared operational.
Similarly, the Port Harcourt Refinery, which resumed limited activity in November 2024, has struggled to surpass 40% of its production capacity. The Kaduna Refinery remains largely inactive.
Experts say the dismal output reflects systemic mismanagement, weak oversight, and a lack of technical accountability under previous leadership.
Maryam Idrisu has been appointed Managing Director of NNPC Trading, the subsidiary responsible for Nigeria’s crude oil marketing, as part of the wider restructuring. Her appointment is seen as a push to install capable professionals in key roles across the NNPCL group.
