Ex-Shell boss tasked with cleaning up Nigeria's oil sector - Channel1 News

Nigeria's president has appointed Bayo Ojulari to lead the state-owned oil company. He is a former Shell executive. This appointment is part of major reforms in the oil sector. The sector has faced issues like corruption, pollution, and inefficiency.

The presidency announced Mr. Ojulari's selection on Wednesday. This change is part of a "crucial" overhaul of the Nigerian National Petroleum Company (NNPC). The entire board has also been replaced to support economic growth.

President Bola Tinubu's administration has experienced economic shocks recently. Food and fuel prices have surged over the past couple of years. The presidency stated that Tinubu aims to increase Nigeria's oil output and refining capacity.

In 2023, Nigeria's oil production fell below one million barrels per day, according to AFP. The government plans to reach two million barrels per day by 2027. They aim for three million barrels per day by 2030.

Mr. Ojulari replaces former NNPC boss Mele Kyari for this mission. He joined Shell Nigeria in 1991 and worked there for 24 years. His roles included positions in Europe and the Middle East.

Ojulari served as Managing Director of Shell for six years before leaving in 2021. After that, he joined BAT Advisory and Energy Company. Last year, he moved to Renaissance Africa Energy Company.