Business
Mele Kyari: A Trailblazer At NNPCL And His Audacious Milestones
Mele Kyari: A Trailblazer At NNPCL And His Audacious Milestones
As the Group Managing Director of NNPCL, Mele Kyari is a trailblazing executive renowned for his unwavering commitment to excellence. His impressive track record at NNPCL is a testament to his strategic prowess, transparency, and accountability. Despite facing numerous challenges, Kyari has successfully transformed NNPCL into a profitable and world-class organization, revolutionizing Nigeria’s oil and gas sector.
With a distinguished background in crude oil marketing, Kyari’s expertise has been instrumental in driving NNPCL’s success. Notably, in 2015, as Group General Manager of the Crude Oil Marketing Division, he skillfully managed federation entitlements, ensured national energy security, and optimized the Direct Sale of crude oil and Direct Purchase of petroleum products (DSDP) arrangement. Kyari’s remarkable leadership and achievements have significantly contributed to Nigeria’s economic growth and development.
Mele Kyari’s Leadership Excellence in the Oil and Gas Industry
As a prominent global player in the oil and gas sector, Mele Kyari’s role as Nigeria’s National Representative to OPEC since 2018 underscores his exceptional leadership and managerial expertise. Upon his appointment as Group Managing Director of NNPC in 2019, he was widely regarded as a model servant leader, inspiring and empowering others to deliver outstanding results.
Kyari has been a driving force behind transparency and accountability, championing the passage of the Petroleum Industry Act (PIA) 2021 and spearheading the transformation of NNPC into NNPC Limited. His achievements include introducing cost discipline, rehabilitating refineries, and promoting domestic gas utilization. Notably, under his leadership, NNPC has commenced novel LNG shipments to Japan and China, leveraging Nigeria’s abundant gas resources for national progress.
The ongoing implementation of CNG as a cleaner alternative fuel to PMS is a testament to Kyari’s vision for a sustainable energy future. His leadership has set unprecedented precedents in the public service sector, cementing his reputation as a trailblazing executive in the oil and gas industry.
NNPC’s Historic Profitability Under Kyari’s Leadership
Under Mele Kyari’s leadership, NNPC has achieved unprecedented financial success, declaring its first profit in 44 years in 2020 and sustaining profitability in subsequent years. The company has also excelled in transparency, consistently publishing audited financial statements.
The recently released 2023 audited financial statement showcases NNPC’s remarkable growth, with a net profit of N3.3 trillion, a N749 billion increase from the previous year. This follows a steady upward trend, from a loss of N803 billion in 2018 to profits of N287 billion in 2020 and N674.1 billion in 2021.
NNPC’s revenue surged to N24 trillion in 2023, up from N8.81 trillion in 2022, with the company declaring a dividend of N2.1 trillion to shareholders. This exceptional fiscal performance is a testament to Kyari’s strategic foresight and operational resilience.
Key factors contributing to this success include the Petroleum Industry Bill, which enhanced government revenue from Production Sharing Contract Arrangements and resolved disputes with International Oil Companies. Kyari’s exemplary leadership has had a profound impact on NNPC’s performance and reputation, cementing his legacy as a transformative leader in the oil and gas industry.
Mr. Kyari’s Commitment to Excellence Drives NNPCL’s Strategic Partnerships
Mele Kyari’s dedication to transparency, accountability, and performance excellence is further demonstrated by NNPCL’s plans to partner with reputable Operations and Maintenance companies to revamp the Warri and Kaduna Refining and Petrochemical Companies. This strategic move acknowledges the limitations of previous management under civil servants and seeks to inject expertise and efficiency into the refineries.
As a distinguished Fellow of various prestigious Institutes, including the Nigerian Association of Petroleum Explorationists (FNAPE) and the Nigerian Mining and Geosciences Society (FNMGS), Kyari has consistently showcased his competence and credibility. Under his leadership, Nigeria’s oil and gas future looks brighter than ever.
We urge all Nigerians to rally behind Kyari, offering support and encouragement as he builds on these remarkable achievements and propels NNPCL to even greater heights. With his vision and expertise, the country’s oil and gas sector is poised for unprecedented growth and success.
Opinion: Adebayo Afolabi
Adebayo Afolabi is a public commentator and writes from Lagos
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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