From Secrecy to Openness: Why 2025 Actually Meant Something for NNPCL
In 2025, NNPCL didn’t become perfect—it became more honest. After years of secrecy, the company began opening its books, stabilizing production, and making tougher, commercially driven choices. Profits grew, gas projects advanced, and fuel prices became less chaotic. For once, Nigerians weren’t asked for blind trust, but given data to examine.
NNPC Ltd Committed to Developing a Robust Downstream
Says, competition alone was no longer enough to drive efficiency, adding that operators must embrace collaboration, sustainability, and resilience as the new benchmarks for success. Renown energy expert and Head of Nigeria’s National Petroleum Company Ltd (NNPCL), Bayo Ojulari says his leadership is currently preoccupied with revamping facilities in the nation’s oil and gas downstream sector. He emphasised that such a move was required to enhance collaboration and drive efficiency in the sector. The NNPCL Group Chief Executive Officer (GCEO), stated this at the opening ceremony of the 2025 OTL Africa Downstream Energy Week in Lagos on Monday. Engr Ojulari made the disclosure while speaking in alignment with the conference’s theme “Energy Sustainability: Beyond Boundaries & Competition.” Doubling down on NNPCL’s current growth and rebranding focus under his leadership, Mr. Ojulari said competition alone was no longer enough to drive efficiency, adding that operators must embrace collaboration, sustainability, and resilience as the new benchmarks for success. “At NNPC, we are committed to deploying additional infrastructure across the oil and gas value chain while revamping our existing downstream infrastructure nationwide. These assets will be accessible to partners seeking to store and transport products, supporting strategic alliances and collaboration in the downstream sector,” the GCEO said. Excerpts of Mr. Ojulari’s presentation was made available to Nigerian Anchor in a statement under the signature of NNPCL Chief Communication Officer (CCCO), Mr. Andrew Odeh. In the statement, Mr. Ojulari was reported to have disclosed that a cocktail of factors ranging from strategic policies and fiscal incentives to transparent and well-structured regulatory frameworks exemplified by the PIA have engendered expansion and growth in the sector requiring new skill sets and further investments in new lines of business such as Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), and mini-LNG projects. The GCEO also urged participants at the conference to discuss challenges and align on opportunities “to redefine energy systems in ways that are both profitable and sustainable, to forge cross-sector partnerships that transcend traditional competition, and to explore innovative business models and technologies that support decarbonization while driving economic value”. Nigerian Anchor reports that the OTL Africa Downstream Energy Week is the continent’s leading downstream and midstream energy event for international organizations, policy makers, and regulators. It is also focused to benefit development organisations, operators, service providers., and consumers in the downstream energy value-chain.
Petroleum Upstream sector reform delivers 28 FDPs worth $18bn
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria’s competitive reform agenda has delivered 28 Field Development Plans (FDPs) worth 18.2 billion dollars in investment commitments. The Commission Chief Executive, Mr Gbenga Komolafe disclosed these on Tuesday at the Africa Oil Week, held in Accra, Ghana. In a statement, Eniola Akinkuotu, Head, Media and Strategic Communications, NUPRC, attributed these feats to President Bola Tinubu’s renewed hope vision. Komolafe said that the achievement underscored the attractiveness of the upstream sector. He said the Commission had approved 28 new FDPs this year, while unlocking 1.4 billion barrels of oil and 5.4 Trillion Cubic Feet (TCF) of gas, and adding an expected 591,000 barrels of oil per day and 2.1 Billion Standard Cubic Feet per Day (BSCFD) of gas. Komolafe made these disclosures in a paper titled ‘Nigeria’s Competitive Reform Agenda for Unlocking Potentials in Upstream Oil & Gas.’ READ ALSO: National oil assets: are the buccaneers coming? He reiterated the importance of energy security as the cornerstone of economic growth and shared prosperity in Africa, as he also stated that Nigeria’s new energy regime ushered in a new era of governance, fiscal reform, and institutional realignment. The CCE said the NUPRC, which is birthed under the new regime, had shown itself as a dedicated and forward-thinking regulator. Komolafe said that in nearly four years, the NUPRC had rolled out 24 transformative regulations, 19 of which were gazetted to operationalise key provisions of the PIA. According to him, the NUPRC has unveiled a comprehensive Regulatory Action Plan (RAP), aligned with the PIA, to tackle regulatory bottlenecks, vacate entry barriers, and ensure timely and transparent licensing rounds. He said the transformative initiatives of the Commission had delivered results, including raising rig counts from eight in 2021 to 43 as of September 2025. “These FDPs, with $18.2 billion in CAPEX commitments, underscore Nigeria’s transformation into one of the most dynamic and attractive upstream investment frontiers in the world. “Other results include the five billion FID for the Bonga North deep offshore development and the 500 million dollars Ubeta Gas Project which signaled renewed long-term commitments. “There are additional FIDs expected in projects like HI NAG Development, Ima Gas, Owowo Deep Offshore, and Preowei Fields. “Since taking office, President Bola Ahmed Tinubu, has also approved five major acquisition deals worth over five billion dollars, unlocking opportunities for ambitious indigenous players,” he said. READ ALSO: NASS Clerk clarifies role in Sen Natasha Akpoti-Uduaghan suspension, resumption bid He said that recent bid rounds and concession awards, such as 57 PPL awards in 2022, the 2022 Mini-Bid Round, and the 2024 Licensing Round, were executed with unprecedented transparency and competitiveness, drawing exceptional investor participation. He said optimising signature bonus requirements and removal of barriers to entry ensured wider accessibility, resulting in 27 out of 31 blocks offered in 2024 being successfully taken up. “This affirms that Nigeria today stands at the dawn of a new era which is defined by clarity, competitiveness, and confidence.
Steering NNPCL towards transparent, productive future: The Ojulari model
In a bold move well commended by industry experts globally, President Bola Tinubu appointed Engr. Bayo Bashir Ojulari as Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL) in April 2025, signaling Nigeria’s renewed commitment to revitalising its oil and gas sector.. Succeeding Mr. Mele Kyari, Engr. Ojulari has hit the ground running, implementing sweeping reforms under President Bola Tinubu’s mandate to boost production, expand refining capacity, and foster unprecedented transparency. In just a few short months, his leadership has already yielded impressive results, positioning NNPCL as a beacon of progress in Africa’s energy landscape. Transformation Agenda Engr. Ojulari’s focus is clear about transforming NNPCL into a world-class energy company that not only meets Nigeria’s domestic needs but also attracts global investment. “Our reforms are about building a sustainable future for Nigeria’s energy sector,” he emphasised in recent statements. Operating with a mandate from the moment of his appointment, he has focused on three pillars: ramping up production and investments, revitalising refining infrastructure, and embedding transparency into the fabric of the company. One of Engr. Ojulari’s most notable achievements has been the dramatic boost in crude oil output. When he assumed office, Nigeria’s daily production hovered around 1.2 million barrels/day. In August 2025, through enhanced collaboration with upstream partners and fortified pipeline security measures, output surged to 1.8 million barrels per day (mbpd). This 50% increase is not just a statistic – it is a lifeline for Nigeria’s economy, reducing reliance on imports and stabilising foreign exchange reserves. Engr. Ojulari’s appetite for reform is voracious. To sustain this momentum, NNPCL under his guidance is aggressively pursuing $60 billion in fresh investments. “Investor confidence is key,” he notes, highlighting how ongoing transformations are designed to create a predictable and profitable environment for partners. This includes targeted gas development initiatives, such as accelerating the Ajaokuta-Kaduna-Kano (AKK) pipeline project. In engaging with off-takers and customers, NNPCL aims to significantly ramp up gas output, unlocking new revenue streams and supporting Nigeria’s transition to cleaner energy sources. AIndustry experts have commended these efforts. “Engr. Ojulari’s approach is pragmatic and results-oriented,” says Dr. Amina Bello, an energy analyst at the Lagos-based Institute for Energy Studies. “In addressing security bottlenecks and fostering partnerships, he is laying the groundwork for long-term growth.” For decades, Nigeria’s refining sector has been plagued by inefficiencies and breakdowns. Engr. Ojulari is changing that narrative with a focused revival strategy. Key refineries in Warri and Port Harcourt are being rehabilitated through an Incorporated Joint Venture (IJV) model, emphasising sustainable operations over quick fixes. “We are not just patching things up; we are building resilience,” Engr. Ojulari states. The outlook Looking ahead, his mandate includes expanding the nation’s refining capacity by an additional 500,000 barrels per day by 2030. This ambitious target aligns with President Tinubu’s vision of energy self-sufficiency, reducing the billions spent annually on imported petroleum products. Early progress in these areas has already sparked optimism among stakeholders, who see Engr. Ojulari’s leadership as a turning point for domestic refining. Perhaps the most transformative aspect of him in the saddle is his unwavering commitment to transparency. After years of opacity, NNPCL has resumed publishing monthly financial and operational reports, a move hailed by civil society groups as a step toward accountability. “Transparency is not optional; it is essential for trust,” Engr. Ojulari affirms. To bolster this, the company has strengthened internal structures, including the appointment of a Chief Compliance Officer. Furthermore, NNPCL is deepening its collaboration with the Nigeria Extractive Industries Transparency Initiative (NEITI), pledging comprehensive data for the 2024 and 2025 audits. These initiatives are not mere formalities; they represent a cultural shift within the organisation, ensuring that every decision is scrutinised and aligned with best practices. Of course, no transformation is without hurdles. Engr. Ojulari has openly acknowledged resistance to his reforms, from entrenched interests to operational complexities. “Change is difficult, but we are committed to seeing it through,” he assured stakeholders during a recent industry forum. Sustaining these early gains will require continued vigilance, particularly in attracting major investments and maintaining production levels amid global market fluctuations. Yet, Engr. Ojulari’s track record suggests he is up to the task. With a background in engineering and a proven ability to deliver results, he embodies the innovative spirit Nigeria needs. As NNPCL continues to evolve under his stewardship, the ripple effects could extend far beyond the oil fields, driving economic growth, job creation, and a more prosperous future for all Nigerians. In a time where energy security is paramount, Engr. Bayo Bashir Ojulari is not just leading NNPCL; he is redefining what a national oil company can achieve. As the company presses forward, the world will be watching – and Nigeria stands to gain immensely.
Civil society groups back Ojulari, slams attacks as baseless
By Daniel Michael A coalition of civil society organisations has endorsed Engr. Bayo Ojulari, the Group Managing Director of Nigeria National Petroleum Corporation Limited NNPCL). The coalition hinged their endorsement on what they called “achievement of significant milestones under his leadership.” Engr. Bayo Ojulari marks four months since taking over as Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL). Briefing the media on behalf of the Coalition on Friday, in Abuja, Dr. Gabriel Nwambu commended Ojulari for implementing bold reforms across operational transparency, fiscal discipline and global competitiveness. He said: “It is safe to say that the man has proven himself not only as a capable administrator but also a rare breed of technocrat.” “Today, through effective and innovative contract reengineering and industry collaboration, the 614km Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project has crossed the River Niger, marking a major step towards delivering the project that would turn around the industrial fortunes of Nigeria. “His leadership acumen has also ensured significant increase in Nigeria’s crude oil production, generating more revenue for the country in the process. “Under Ojulari’s watch, for the first time in a long while, the nation enjoyed 100% crude oil pipelines availability throughout June 2025. The feat which was possible through the industry-wide security interventions led by the NNPC. “Ojulari’s tireless efforts led to the prompt payment of cash call obligations by the NNPC. Unlike in the past were NNPC’s Joint Venture partners complain of non-payment by their senior partner, today, the IOCs can close their eyes knowing that in NNPC, they have a reliable partner that will keep its own side of the contract. “It is also not a secret today that the Ojulari-led management has revamped governance and procurement processes at the NNPC, saving the company billions of naira in potential losses. “He has aso instituted a data-driven framework for contract awards and auditing, effectively blocking several channels previously exploited for financial recklessness.” Nwambu, the Director-General of the Centre for Credible Leadership and Citizens’ Awareness (CCLCA), lamented what he described as the unrelenting attacks and surge in negative media coverage against NNPC Ltd and its senior management. He said the attacks, carefully orchestrated and coordinated by faceless groups and individuals with nefarious intentions, were, to say the least, most unfortunate. He said: “The frightening part of this dangerous development is that these negative campaigns do not look like they will stop anytime soon. Today, it is Bayo Ojulari, the Group CEO, tomorrow, it is Dapo Segun, the Chief Financial Officer (CFO), and the next day, it is Udy Ntia, the Executive Vice President (EVP} Upstream. “The evil forces appeared to be unrelenting in their quest to bring the company and its management to their knees. “The NNPC Limited and its Management have seen enough: from sponsored media attacks to frivolous lawsuits, even staged protests from rented crowd based on nothing but the imaginations of the purveyors of fake news, the critics keep coming in droves. “Apparently, some folks, both within and without are not happy with the direction the NNPC is going and would stop at nothing to derail the process of making NNPC work for all. “To think that some Nigerians are behind these mischievous allegations in the media, is just serendipitous. The purveyors of these acts are probably oblivious of the immense damage they are doing to a company which should be our collective national treasure. “This is a company that could best be described as the goose that lays the golden egg. This is a company that is about to be listed on the stock exchange!.” He also said: “But one might ask: what do they stand to gain by making these potentially damaging allegations towards one of Nigeria’s major brands and institutions? What is their benefit if the National Oil Company goes down as a result of their cynical opinions which seem to keep discerning investors away? Where is their patriotism? Where is the national pride and where lies their conscience? “Instead of resorting to media trial of the NNPC and its Management, why won’t these individuals and groups utilise legal option to prove their cases? These traducers, in their myopic view, always think NNPC, led by Bashir Bayo Ojulari is the problem of Nigeria. “Again, these critics, in their warped thinking and imagination, believe they or their paymasters can do better, in case they are asked to steer the ship of a Company that is gradually fighting its age-long demons and gradually coming back to life. “The NNPC Management, especially under Ojulari’s stewardship, has never shied away from its many challenges. If anything, it has always been seen to face the challenges headlong. And the result of that confrontation has seen the company’s fortunes, growing in leaps and bounds. “A saying goes that “critics are like eunuchs in a harem, they have seen it done times without number, but they can never do it themselves.” The NNPC critics fall in this category, because they have, many at times, been witnesses to how the Company, turbo-charged by the new legislative chest of the Petroleum industry Act (PIA) is gradually transforming into a world-class commercial entity of choice. Sadly, like the eunuchs, these onwatching cynics can never do it themselves. “Fact is whether they like it or not, the NNPC reforms are like a moving train that can never be stopped. Mr. President did not make a mistake by nominating the current NNPC Management. And from their performance so far, it is evident before everyone’s eyes that this is indeed a team driven by technical acumen, eagle-eyed attention to details, and unrelenting desire to rewrite the oil and gas playbook in Nigeria. “As partners in the Nigerian Project, our coalition therefore calls on these detractors to support the Bayo Ojulari led management team for the good work it is doing at the NNPC. The group admonished those they called “traducers” to allow the new Management at the NNPC turn around the fortunes of the company for the better
Court Orders Freeze of Four Bank Accounts Linked to Ex-NNPCL Boss Kyari
The Federal High Court in Abuja has ordered the temporary freezing of four accounts at Jaiz Bank, allegedly linked to Mele Kyari, former Group Managing Director (GMD) of Nigerian National Petroleum Company Limited (NNPCL). Justice Emeka Nwite gave the order on Tuesday after hearing an ex parte application filed by the Economic and Financial Crimes Commission (EFCC). The anti-graft agency told the court that Kyari is under investigation for alleged conspiracy, abuse of office, and money laundering. According to an affidavit presented by EFCC investigator Amin Abdullahi, the four accounts — two in Kyari’s name and two belonging to the Guwori Community Development Foundation Flood Relief — were discovered to contain ₦661.4 million suspected to be proceeds of unlawful activities. The EFCC alleged that the funds were disguised as payments for a book launch and NGO projects but were in fact linked to suspicious inflows from the NNPCL and oil companies. It further claimed that the accounts were being controlled by Kyari through family members acting as fronts. Justice Nwite, while granting the order, said the application had merit and adjourned the matter to September 23 for a report on the investigation. The Commission said the freeze order was necessary to preserve the funds while investigations continue, with a view to possible prosecution.
NNPC Ltd, Ssonic petroleum sign 80mmscf/d gas supply deal
The NNPC Gas Marketing Ltd. (NGML), and NIPCO Gas Ltd., have signed an agreement with Ssonic Petroleum Ltd. to supply natural gas to the company’s proposed Liquefied Natural Gas (LNG) plant in Lagos State. NGML, a subsidiary of the NNPC Ltd. and its Unincorporated Joint Venture (UJV) partner, NIPCO, executed the Gas Sale and Purchase Agreement (GSPA) with Ssconic to supply gas to its plant located at Lekki Free Trade Zone, Lagos state. The NNPC Ltd.’s Spokesperson, Olufemi Soneye, in a statement on Friday in Abuja, said under the terms of the agreement executed, the NGML-NIPCO UJV would supply 80 million standard cubic feet (mmscf) per day of natural gas for 20 years. He said the gas supply agreement was part of efforts by the NNPC Ltd. to boost domestic gas utilisation for the nation’s industrial and economic growth. This development , he said would promote the use of gas as a cleaner, cheaper and more environmentally friendly fuel in keeping with the goal of reducing global warming.
FG bans 60,000-litre petrol motor tankers from March 1
The Nigerian government has announced that petroleum tankers with up to 60,000 litres capacity will no longer be allowed on the roads starting March 1. This decision aims to reduce road accidents involving heavy-duty fuel trucks. Ahmed Farouk, head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), made this known in Abuja after a meeting with key stakeholders, including security agencies and transport unions. He added that by the last quarter of 2025, tankers with a 45,000-litre capacity would also be restricted from loading fuel. The ban follows concerns over frequent accidents linked to overloaded fuel tankers. Officials stressed that all stakeholders had agreed to enforce safer transportation of petroleum products nationwide. Farouk also dismissed concerns about fuel quality in Nigeria, assuring that all petroleum products meet strict regulatory standards before distribution. He said reports questioning fuel quality were misleading and lacked scientific backing. He further explained that local refineries contribute less than half of Nigeria’s daily petrol supply, with the rest being imported. Since fuel subsidies were removed, daily petrol consumption has dropped from 66 million litres to around 50 million litres. T The regulator assured Nigerians that measures are in place to maintain a steady fuel supply across the country.
NNPCL Petrol Passed Industry Quality Tests – PETROAN
As NNPCL, refiners and petroleum marketers progress in their game of conspiracy theories and feeble schemes to de-market each other’s brands and products The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) says the petrol supplied by the Nigerian National Petroleum Company Limited (NNPCL) meets top industry standards. This follows online claims that NNPCL’s fuel was of poor quality. PETROAN conducted a thorough test on NNPCL’s petrol, which showed that it meets all key industry requirements. Tests included flash point, density, viscosity, sulfur content, water content, and ash content, all of which passed the necessary benchmarks. PETROAN’s spokesperson, Joseph Obele, stated that NNPCL’s fuel has a safe flash point, meets density standards for engine performance, and has acceptable viscosity levels to protect engines. The sulfur content and water levels were also within limits to prevent engine damage and pollution. Obele urged the public to disregard false information from unverified sources and to rely on accurate reports. PETROAN president, Billy Gillis-Harry, also warned content creators against spreading misleading information that could harm the economy. The NNPC refuted the claims in the viral video, calling the allegations baseless and based on inaccurate research.
Cargo diversion: NUPRC threatens denial of export permits
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has threatened to deny export permits for crude oil cargoes intended for domestic refining, if oil companies do not fulfill their domestic crude obligations. The Commission Chief Executive (CCE), Mr Gbenga Komolafe, insisted that any changes to cargoes designated for domestic refining must receive express approval from the commission. Komolafe, in a letter dated Feb. 2, 2025, addressed to exploration and production companies and their equity partners reiterated that diverting crude oil meant for local refineries violates the law. At a recent meeting, attended by more than 50 critical industry players, both the refiners and producers blamed each other for the inconsistencies in the Domestic Crude Supply Obligation (DCSO) policy implementation. They, however, agreed that the regulator has put in place appropriate measures for effective implementation. The refiners had claimed that producers were not meeting supply terms and preferred to sell their crude outside, forcing them to look elsewhere for feedstock. READ ALSO: Security agencies profiling ‘pantaker’ market operators The producers countered that refiners hardly met commercial and operational terms, forcing them to explore other markets elsewhere to avoid unnecessary operational bottlenecks. Komolafe, therefore, cautioned against any further breaches from either party, and advised refiners to adhere to international best practices in procurement and operational matters. He reminded producers not to vary the conditions stated in the DCSO policy without obtaining express permission from the commission before selling crude outside the agreed framework, to avoid abuse. The executive secretary referenced Section 109 of the Petroleum Industry Act (PIA) 2021, which aims to ensure a stable supply of crude oil to domestic refineries and strengthen the nation’s energy security. According to Komolafe, the commission will henceforth strictly enforce the policy regarding implementation and defaults by oil companies. READ ALSO: Rural electrification agency gets new Chief Executive Officer He stated that significant regulatory actions have already been taken by the Commission, in line with the enabling laws, to enforce compliance with the Domestic Crude Supply Obligation (DCSO). “These actions include the development and signing of the Production Curtailment and DCSO Regulation 2023, as well as the creation of the DCSO framework and procedure guide for implementation. “Also, during monthly meetings with upstream operators, NUPRC monitors compliance with production metrics that provide insight into available crude volumes two months in advance, facilitating discussions regarding supply commitments to refineries,” he said. The NUPRC boss warned that it would not condone violation of the laws governing domestic crude supplies to local refineries, as such actions have implications for the country’s energy security. “Kindly note that the diversion of crude cargo designated for domestic refineries is a contravention of the law and the Commission will henceforth disallow export permits for designated crude cargos for domestic refining,” he warned.