Investing.com -- Nigeria’s state oil company, NNPC Ltd., has seen a change in management as the country’s President Bola Tinubu appoints Bashir Ojulari, former head of a unit of Shell Plc, to lead the firm.

The move is part of Nigeria’s efforts to increase production and rejuvenate its local refining capabilities as Africa’s largest crude producer.

Ojulari will take over from Mele Kyari as the head of NNPC Ltd. immediately, as confirmed by presidency spokesman Bayo Onanuga.

The newly constituted board, led by Ojulari, has been tasked with conducting an immediate strategic portfolio review of NNPC-operated and joint venture assets.

The aim of this review is to ensure that all operations are aligned with the company’s objective of maximizing value, as stated by Onanuga.

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