Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), has raised the alarm over alleged attempts to topple his leadership as he pursues sweeping reforms in the oil and gas sector.
Ojulari spoke out during a meeting with the leadership of PENGASSAN at the company’s Abuja headquarters. He disclosed that his only “offence” has been championing a bold turnaround initiative to revive the country’s neglected refineries—actions, he says, that have unsettled powerful vested interests.
The CEO revealed that critics have escalated their opposition through petitions to the Economic and Financial Crimes Commission (EFCC), even as he and his team push ahead with plans to adopt a NLNG-style partnership model. This model—pending collaboration with a “professional refinery company”—aims to make Nigeria’s refineries profitable after years of operational drain estimated at $300–$500 million monthly.
Ojulari sought to reassure oil workers, stressing that structural changes would not threaten jobs. Rather, they would usher in capacity-building and training opportunities aligned with the modernization of refineries.
He also highlighted strategic partnerships—including NNPCL’s stake in Dangote Refinery— as key to preventing fuel shortages. Optimistically, he projected that at least one or two of the nation’s refineries would be operational within the next two to three years to meet regional demand.
