President Bola Tinubu has appointed Chief Pius Akinyelure as the non-executive Chairman of the Board of the Nigerian National Petroleum Company (NNPC) Limited while retaining Mele Kyari as the Group Chief Executive Officer.
The embattled GCEO of NNPCL, according to a reliable source survived the planned removal because Akinyelure who wields much influence on President Tinubu waded in, pleading with the President to give Kyari a second chance to prove his mettle.
The source further hinted that based on the respect Tinubu has for his former boss at Mobil; he reluctantly agreed to shelve the sword of Damocles hanging on Kyari’s neck, thereby tying the GCEO to a performance bond.
Ajuri Ngelale, Special Adviser to the President, (Media & Publicity) made this known in a statement obtained by EnergyDay on Monday.
According to the statement, the President in compliance with Section 59 (2) of the Petroleum Industry Act, 2021, approved the appointment of a new Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL) with effect from December 1 and 2, 2023.
Other members of the NNPCL Board and management include Alhaji Umar Isa Ajiya, Chief Financial Officer; Mr. Ledum Mitee, Non-Executive Director; Mr. Musa Tumsa, Non-Executive Director; Mr. Ghali Muhammad, Non-Executive Director; Prof. Mustapha Aliyu, Non-Executive Director; Mr. David Ogbodo, Non-Executive Director; and Ms. Eunice Thomas, Non-Executive Director.
He further approved the re-appointment of Amb. Gabriel Aduda, as the Permanent Secretary, Federal Ministry of Petroleum Resources.
President Tinubu, therefore, is said to be anticipating the fullest measure of compliance with the performance-driven and results-oriented mandate of his Renewed Hope administration in the implementation of an energy policy.
He believes Nigeria needs to monetize all available oil and gas resources of today while paving the way for the total exploitation of new and cleaner energy sources of tomorrow by his team.
Before he was appointed Chairman, Akinyelure served as a board member of NNPC Limited, which was disbanded in June by President Tinubu, along with the boards of federal government agencies and parastatals.
With over 30 years of experience as a Senior Executive in both upstream and downstream oil and gas organizations, Akinyelure has held various positions, including Executive Director of Finance and External Relations at Mobil Oil Nigeria Plc.
EnergyDay gathered that the NNPCL Non-Executive Board Chairman’s extensive experience also includes serving as Chairman or Director of numerous companies and financial institutions, such as West African Portland Cement Plc, Odu’a Investment Limited, Oluwa Glass Plc, Okitipupa Oil Palm Plc, Wema Bank Plc, Credite Bank Ltd, Odu’a Telecommunications Limited, Cocoa Industries Nigeria Ltd, Hallmark Bank.
Additionally, Akinyelure has served on the boards of SPA Dredging Company Limited, King Guards Nigeria Ltd, POA Investment Ltd, Eres N.V Nig. Ltd, Transnational Computer Technology, Seg Mahsen & Co. (NIG) LTD, Pak Oil Marketing Limited, ACOP Properties Limited, Betta Consortium (Ikoyi Hotels), and CAT Construction Company Limited.
For nearly 17 years, Akinyelure has been a Senior Consultant at NNPC Oil and Gas International.