Abuja, April 3, 2025 – Economist Prof. Evans Osabuohien has commended President Bola Tinubu for dismissing the Chairman and Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, describing the move as a step toward greater transparency in the petroleum sector.
Osabuohien, who heads the Economics Department at Covenant University, told the News Agency of Nigeria (NAN) on Wednesday that the removal of Pius Akinyelure, the company’s Chairman, and Mele Kyari, its GCEO, was a welcome development.
“The sacking of the NNPC board was the right step in the right direction,” he stated, emphasizing that it could help curb sharp practices in the industry.
However, he cautioned that the action should not be an isolated measure. “There is the need for a holistic probe of the sector,” he added.
Osabuohien also highlighted NNPC’s financial struggles since it transitioned into a private company two years ago, noting that the organization had been operating at a loss. He proposed that the government restructure NNPC into a public liability company with a board of directors accountable to the public.
“This will make the sector more vibrant, contribute positively to the economy, and create employment opportunities,” he said.
The economist further urged the government to address the ongoing conflict between NNPC and the Dangote Group to ensure stability in the sector.
On Tuesday, presidential spokesperson Bayo Onanuga confirmed in a statement that President Tinubu had replaced Akinyelure and Kyari with Ahmadu Kida and Bayo Ojulari, along with the removal of all other board members.
