New NNPCL CEO, Bayo Ojulari, is set to implement major reforms, with reports indicating a restructuring across subsidiaries. Experts urge him to prioritize governance, investment, and efficiency. Analysts highlight the need for transparency, refinery upgrades, and reduced political interference to align NNPCL with global oil giants like Saudi Aramco.
Engineer Bayo Ojulari has officially assumed office as the new Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), with expectations of significant restructuring across the organization. Industry sources suggest that sweeping changes will begin at the corporate headquarters and extend to subsidiaries, including NNPC Upstream, Gas & Power, and Non-Energy divisions.
Experts have outlined key priorities for Ojulari’s administration, including reviewing the controversial “Naira for Crude” deal, selling NNPCL shares to the public, and aligning operations with the Petroleum Industry Act (PIA). Industry analysts stress the importance of improving corporate governance, optimizing oil and gas assets, and enhancing efficiency within the sector.
The recent leadership overhaul signals President Bola Tinubu’s commitment to repositioning NNPCL. Analysts have drawn comparisons with global oil giants like Saudi Aramco and PETRONAS, urging the new management to foster transparency and profitability. Calls for limiting political interference have also emerged, emphasizing the need for NNPCL’s independence to drive sustainable growth.
Meanwhile, NNPCL’s management and staff have welcomed Ojulari’s appointment, acknowledging the contributions of outgoing CEO Mele Kyari. They expressed optimism that the new leadership will bring much-needed reforms to Nigeria’s oil and gas industry.
As Ojulari takes charge, stakeholders anticipate a major transformation in the sector, with a focus on improving operational efficiency and maximizing Nigeria’s oil wealth for national development
