Bayo Ojulari, the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Ltd, has removed the managing directors of the Kaduna, Port Harcourt, and Warri refineries.

Objective
The move aims to halt “continued value erosion” in Nigeria’s refining sector and develop a long-term strategy to restore and maximize value for the federation.

Assessment Team
Ojulari has inaugurated a high-level assessment team to determine the current status of NNPC refineries and provide recommendations.

Background
The development follows the termination of services of several senior staff members, including the former chief of National Petroleum Investment Management Services (NAPIMS) and other key officials.