Scandal and Reform: NNPC in the Jonathan and Buhari Years

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The years following President Yar’Adua’s death in 2010 marked a dramatic shift in Nigeria’s oil and gas sector. As global oil prices soared and political stakes rose, the Nigerian National Petroleum Corporation (NNPC) found itself caught in a tug-of-war between scandal and reform.

Jonathan’s Era (2010–2015): Windfalls and Whirlwinds

During Goodluck Jonathan’s presidency, oil prices averaged over $100 per barrel; yet, the wealth generated did not translate into broad-based development due to governance issues. Moreover, his tenure was marked by widespread criticism of the NNPC at both national and international levels.

Under successive GMDs: Mohammed Sanusi Barkindo, Shehu Ladan, and most notably, Andrew Yakubu, the NNPC was accused of failing to remit billions of dollars in oil revenue. The most inflammatory allegations came from then Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, who in 2014 accused the state oil company of not accounting for $20 billion. Additionally, the 2012 fuel subsidy scandal in which over ₦1 trillion was discovered to have been diverted fraudulently sparked the nationwide #OccupyNigeria protests.

Read More: FULL LIST: NNPC leadership from 1999 to 2025

Still, Jonathan’s administration was not without reform attempts. It sought to restructure the Petroleum Equalisation Fund and improve downstream operations. However, these efforts were frustrated by institutional and political challenges. Perhaps the greatest missed opportunity was the failure to pass the Petroleum Industry Bill (PIB).

Buhari’s Tenure (2015–2023): Control, Contraction, and a Historic Reform

When President Muhammadu Buhari took office in 2015, his reputation as an anti-corruption crusader suggested that there would be institutional reforms across the country. His decision to stand as Petroleum Minister was taken as a signal that the sector was a priority; however, as is well known, the consolidation of power comes with its own baggage.

His government appointed Maikanti Baru as Group Managing Director (GMD) of the NNPC in 2016 and then Mele Kyari in 2019. Kyari led several reform initiatives, including the launch of the Transparency, Accountability & Performance Excellence (TAPE) agenda. For the first time in the company’s history, audited financial statements were published, and there were efforts to cut down on operating costs. Under his leadership, the corporation was repositioned to appear more commercially focused. Even with these steps, crude oil production dropped significantly and fuel prices became increasingly unstable.

A major win, however, for Buhari’s administration was the passage of the Petroleum Industry Act (PIA) in 2021 (finally!). The Act turned NNPC into a limited liability company, NNPC Limited. It also introduced new structures to regulating the industry and set up a Host Communities Development Trust to support the welfare of local populations.

In April 2025, Mele Kyari was removed as part of a broader shake-up amid growing frustration with NNPC Limited’s performance. Nigeria’s current president, Bola Tinubu, has steered the company toward technocratic leadership by appointing a new board and naming Bayo Ojulari, a former Shell executive, as Group Chief Executive Officer. Now, the real test lies ahead: Can this new leadership finally bring stability, transparency, and growth to a sector long plagued by mismanagement? Only time will tell.