������Ƶ

*Picks Dagazau as EVP downstream, Sophia Mbakwe EVP business services 

*Shareholders ratify appointments of GCEO, others 

*Kyari formally hands over to Ojulari

Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC) has ramped up its new restructuring drive with the appointment of Roland Ewubare as its Group Chief Operating Officer and erstwhile top ExxonMobil’s official, Adesua Dozie,  as its Company Secretary and Chief Legal Officer.

Also, the national oil company, picked Mumuni Dagazau as the new Executive Vice President (EVP) Downstream and Sophia Mbakwe as Executive Vice President ������Ƶ Services.

The new appointments followed the removal of the former chairman, Chief Pius Akinyelure and the Group Chief Executive Officer, Mallam Mele Kyari and other members of the NNPC board as well as their replacement with a new board chaired by Ahmadu Kida and Bayo Ojulari as the new GCEO.

In a letter dated April 2, 2025, seen by ������Ƶ yesterday, the ‘shareholders’ of the NNPC also ratified all the appointments made so far in compliance with the relevant laws.

������Ƶ recalls that having not listed on the Nigerian Stock Exchange (NGX), the statutory shareholders of the NNPC are the Ministry of Finance Incorporated (MOFI) and the Ministry of Petroleum Incorporated (MOPI), each holding half of the shares on behalf of the Federal Government of Nigeria.

In the official communication by one of the statutory shareholders, the Ministry of Finance, the federal government stated that the company’s new leadership is expected to focus and achieve a number of fundamental objectives, including increasing crude oil and gas production as well as strengthening domestic refining capacity of both state-owned and private sector entities.

In a separate resolution, the shareholders authorised the Board of Directors “to do all such things including without limitation to signing such documents, directing such committees or person(s), if any, as may be required by law and the Memorandum and Articles of Association of the Company to give effect to the resolutions.”

Besides, they authorised the company secretary  to make all requisite filings at the Corporate Affairs Commission (CAC) of the updated list.

NNPC confirmed this in a brief statement signed by its Chief Corporate Communications Officer, Mr. Olufemi Soneye.

Also yesterday, the new GCEO  of the NNPC Ltd officially took over the reins of the company from his predecessor, Kyari.  

In a brief handover ceremony at the NNPC Towers, the GCEO commended Kyari for his contributions to the growth of NNPC and his sterling service to the nation. He disclosed that the objective of his management was to consolidate on the successes of his predecessor and take the company to the next level.

He said though the targets set for his management were quite challenging, he would be relying on the cooperation of the management and staff of the company, as well as the counsel of his predecessor to achieve the target,” a statement by the NNPC’s spokesman, Olufemi Soneye, said.

“I will be counting on your support. I will need it. I will be coming around to seek your counsel,” Ojulari told Kyari.

Earlier in his remarks, Kyari congratulated Ojulari and thanked the management and staff of the company for their support while in office. He pledged to do everything in his power to support the new management to succeed, stressing that he was only a call away.

But in the letter making and ratifying the new appointments, signed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, he stated that the appointment of the new leadership of NNPC was a bold measure for the achievement of the Renewed Hope Agenda of the Bola Tinubu administration.
“Mr Chairman, let me begin by congratulating you on your appointment by Mr President as Chairman of the Board of Directors of the NNPC. It is a testament to the confidence in your ability to guide and to lead at this critical moment in our country’s developmental journey.

“Further to the announcement of the new Board of Directors NNPC by His Excellency President Bola Ahmed Tinubu,  based on the vision to comprehensively transform Nigeria’s energy industry, the company’s leadership is expected to focus and achieve a number of fundamental objectives including increasing crude oil and gas production, strengthening domestic refining capacity of both state-owned and private sector entities, attracting and promoting strategic investments across the entire energy value chain.

“As you are aware, the achievement of these and other objectives are not matters to be driven solely by the Board of Directors but also the Management Team of NNPC. In this regard, to deliver on the vision of Mr President, the shareholders of NNPC have passed the enclosed written resolution directing the Board of Directors of the Company to immediately appoint a new management team to superintend the day-to-day administration of the Company.

“In your capacity as the Chairman of the Board of Directors, you are to take all! measures required to give effect to these resolutions with dispatch. The appointment of the new leadership of NNPC is a bold measure for the achievement of the Renewed Hope Agenda of the Tinubu administration; it must therefore operate with impeccable integrity, accountability and unparalleled efficiency to compete with other reputable energy companies around the world and deliver meaningful value to the Federation and Nigerians.

“As the Honourable Minister of Finance and Coordinating Minister of the Economy, I regard the operations and activities of the Company as critical to the economic stability of the country. Therefore, my office will work with the NNPC to position it as an enabler of economic prosperity, energy security and industrial growth of the country for the benefit of all,” Edun stated.

The shareholders also ratified the appointments of Ewubare as COO;  Adedapo Segun as Group Chief Finance Officer;  Olalekan Ogunleye as Executive Vice President Gas, Power & New Energy and Udobong Ntia as Executive Vice President,  Upstream.

Other members ratified included: Mumuni Dagazau, as Executive Vice President Downstream; Sophia Mbakwe as Executive Vice President ������Ƶ Services and Adesuwa Dozie as Company Secretary & Chief Legal Officer.

The new COO, Roland Ewubare is an accomplished global business leader and administrator, recognised for his significant management roles in both Nigeria and the United States.

Most recently, he held the position of COO at the NNPC, where he oversaw two key directorates: Upstream and Ventures. He voluntarily stepped down from this role in May 2020.

Before his appointment as COO, Ewubare served as the Group General Manager of NNPC’s National Petroleum Investments Management Services, where he was responsible for managing Nigeria’s commercial partnerships with both local and international oil companies, overseeing an annual budget exceeding $15 billion.

Earlier in his career, he worked at Schlumberger, holding several high-ranking positions, including Corporate Counsel in New York, General Counsel of NPTest (a Schlumberger subsidiary) in California, and Executive Director of Schlumberger Nigeria.  

Before his tenure at Schlumberger, he was a Corporate Associate at the prestigious law firm Skadden, Arps, Slate, Meagher & Flom LLP in New York.

Ewubare earned his Bachelor of Laws degree from the University of Ife in Nigeria, a Master of Laws in International ������Ƶ Law from Queen Mary & Westfield College, University of London, and another Master of Laws from Harvard Law School. Additionally, he holds an Executive Certificate in High Performance Leadership from Oxford University.

Roland has also shared his expertise as a visiting lecturer at the University of Maryland (2013) and the Georgia Institute of Technology (2021), where he taught a module on Energy Policy and Climate Change. He is currently an Alumni in Residence at Harvard Law School.