The new Group Chief Executive Officer (Group CEO) of the Nigerian National Petroleum Company, Bayo Ojulari has sacked the managing directors of three NNPC refineries located in Port Harcourt, Kaduna, and Warri, as reported by Peoples Gazette on Thursday.
Officials indicated that Mr Ojulari’s decision aims to address the “continued value erosion in Nigeria’s refining sector,” asserting that the changes will enhance the efficiency and output of the facilities.
The immediate removals follow the recent dismissal of top executives within the state-run oil firm, as part of a broader effort to restructure the organisation’s culture of waste and mismanagement, according to an official.
“The primary objective of the restructuring is to halt the ongoing loss of value in the short term and to develop a credible, long-term strategy that will restore and maximise value for the federation,” the official stated.
In addition, Mr Ojulari has established a high-level assessment team led by NNPC’s vice-president of downstream operations, Mumuni Dagazzau. The team is tasked with conducting a swift operational assessment of all NNPC refineries “to determine their current status and provide recommendations,” an official added.
A spokesman for the NNPC was unavailable for comment regarding the dismissals on Thursday afternoon, and the affected officials could not be reached for their responses.
