Nigeria Hires Ex-CEO of Shell Unit to Lead State Oil Company (1)

Nigerian President Bola Tinubu hired the former head of a unit of Shell Plc to run the state oil company, as Africa’s biggest crude producer works to boost output and prepare the firm for an initial public offering.

Bashir Ojulari will replace Mele Kyari as head of NNPC Ltd. with immediate effect, presidency spokesman Bayo Onanuga said in a statement. Ojulari most recently served as chief operating officer of Renaissance Africa Energy Co., and previously led Shell Nigeria Exploration and Production Co.

Mele Kyari

Photographer: F. Carter Smith/Bloomberg

The new board has been asked to conduct a strategic review of NNPC-operated and joint venture assets ...