Tag: Bayo Ojulari

‘NNPCL secretly hires top managers from South, after halting oil exploration funding in North’ – Sources

Aminu Imam
NNPCL secretly hires top managers from South

Fresh controversy has engulfed Nigeria’s oil and gas sector following allegations that the Nigerian National Petroleum Company Limited, NNPCL, quietly recruited mostly Southerners into executive and middle management positions, amid claims that the exercise violated the federal character principle. Sources told newsmen that the recruitment, conducted alongside the company’s ‘Accelerated and Voluntary Exit Programme’, lacked transparency and was carried out without public advertisement or clearly defined selection criteria. The development comes as stakeholders also criticised President Bola Tinubu’s Executive Order 9, which redirects funds previously allocated to frontier oil exploration…

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NNPCL Boss hails Ɗangote refinery as ‘world-class marvel’

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NNPCL Boss hails Dangote

…As Ɗangote Group plans public share offer The Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has described the Dangote Petroleum Refinery as a “world-class technological marvel,” urging Nigerians to take pride in what he called one of the boldest industrial achievements in the country’s history. Ojulari made the remarks at the weekend during a landmark visit to the 650,000-barrels-per-day facility, accompanied by members of the NNPC Board and executive management team — the company’s first official tour of the refinery. Commending billionaire industrialist Aliko…

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“NNPCL refineries unsustainable, we were wasting public funds” – Ojulari

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Ojulari on refineries

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has openly admitted that Nigeria’s state-owned refineries were operating at massive losses, prompting his administration to halt their operations to prevent further financial damage to the country. Ojulari made the revelation yesterday in Abuja during a fireside chat, titled: ‘Securing Nigeria’s Energy Future’, at the Nigeria International Energy Summit 2026, where he delivered one of the most candid assessments yet of the nation’s troubled refining sector. According to him, the shutdown was necessary to prevent…

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“Shell commits fresh $20bn investments in Nigeria” – NNPCL GCEO

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NNPCL spends2

…$7bn already spent By Hassan Faruk The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bashir Bayo Ojulari, has disclosed that Shell Petroleum Development Company has committed to pursuing additional investment opportunities worth about $20 billion in Nigeria over the next couple of years, following renewed investor confidence driven by recent government reforms. Ojulari made the disclosure while explaining to State House correspondents the substance of a proposal presented to President Bola Ahmed Tinubu, highlighting the impact of the Executive Orders issued in 2025…

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Court orders Tinubu, NNPCL boss, EFCC to respond to suit seeking Ojulari’s sack

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Court orders

A High Court of the Federal Capital Territory (FCT) has issued an order directing President Bola Tinubu and the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, to respond to a request to compel the President to suspend him from office pending the determination of a suit querying his competence for the job. Justice Mohammed Madugu (sitting in the Bwari division of the court) issued the order in a ruling on an ex-parte motion filed by a group, the Incorporated Trustees of Initiative for…

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NNPCL spends ₦17.5tr on pipeline, fuel security in 2024

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NNPCL spends

The Nigerian National Petroleum Company Limited (NNPCL) paid a total of ₦7.1 trillion as subsidy for premium motor spirit (PMS) in 2024, this sum represents a 47.9% increase from ₦4.8 trillion recorded in 2023. This is despite the government’s announcement of subsidy removal in 2023. The company explained that the amount, which it termed ‘energy security expense’ arises when there is differential between the exchange rate used to freeze the premium motor spirit ex-coastal price and the prevailing rate at the point of import settlement. According to the report, government…

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Senate orders NNPCL to refund unaccounted ₦210tr to Federation Account

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Senate orders NNPCL

…As Oshiomhole slams Ojulari for covering records of fraud The Senate has ordered the Nigerian National Petroleum Company Limited (NNPCL) to refund ₦210 trillion in unaccounted funds to the Federation Account after rejecting the company’s explanations over the missing sum. Recall that the Senator representing Edo-North, Adams Oshiomhole, on Thursday slammed the NNPCL Group Managing Director (GMD), Bayo Ojulari, over an alleged attempt to cover up fraud in the state-owned oil company’s financial records. Oshiomhole made the allegation during a session of the Senate Committee on Public Accounts, which rejected…

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NNPCL Boss, Ojulari raises alarm over threats

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Ojulari raises alarm

…‘Nobody wants your job’ – Northern Youths fire back A fresh storm has erupted around the leadership of the Nigerian National Petroleum Company Limited (NNPCL), as its Group Chief Executive Officer, Engr. Bayo Ojulari, yesterday alleged that powerful interests are plotting to unseat him over the reforms he has initiated in the oil and gas sector. Ojulari, who disclosed this while receiving a delegation of the Petroleum and Natural Gas Senior Staff Association of Nigeria, (PENGASSAN), said his life and that of some management staff were under threat because of…

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International syndicates behind oil theft in Nigeria’ – NNPCL’s Ojulari

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NNPCL Ojulari

…As defence chiefs meet Crude oil theft in Nigeria is being driven by sophisticated international syndicates exploiting security gaps across the country, the Nigerian National Petroleum Company Limited (NNPCL) has warned. According to the NNPCL Group Chief Executive Officer (GCEO), Bayo Ojulari, organised oil theft networks that once drained billions of dollars from Nigeria’s economy have been ‘crippled,’ with crude exports now stabilising. Speaking at the five-day African Chiefs of Defence Staff Summit in Abuja on Monday, Ojulari disclosed that intensified collaboration between defence and intelligence agencies has restored confidence…

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NNPCL: Presidency denies sack, forceful resignation of GCEO, Ojulari

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NNPCL Ojulari2

The Presidency has denied a report claiming that President Bola Tinubu has sacked, or directed, Bayo Ojulari to resign as Group Chief Executive officer (GCEO) of the Nigerian National Petroleum Company Limited, (NNPCL).  An online report published yesterday alleged that Ojulari was detained on Friday and coerced into signing a resignation letter by the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, and the Director-General of the Department of State Service (DSS), Adeola Ajayi. According to the earlier report, sources within national security circles described the move…

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