NNPC CEO Bayo Ojulari Finally Breaks Silence Amid His Rumoured Resignation
- Following the speculation about his resignation, NNPC CEO Bayo Ojulari has reaffirmed his position after speaking at an industry event
- There have been rumours that he was forced to resign, and the EFCC confirmed that it received a petition
- Ojulari was appointed the NNPC CEO by President Bola Tinubu and recently celebrated his 100 days in office
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Amid rumours of resignation, Bayo Ojulari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd), delivered a speech at an event organised by the Society of Petroleum Engineers in Lagos.
Although he did not address the speculation, his appearance reaffirms that he remains at the helm of the national oil company.
Source: Facebook
Ojulari's resignation had circulated on social media, with claims that he was interrogated and forced to resign, and some reports alleging that he was pressured by the EFCC and the Department of State Services.
The Cable in a report on August 3 also claimed that Ojulari’s position was under review following internal concerns at the Presidency over some past deals involving Atiku Abubakar’s son-in-law, Gbolahan Obanikoro.
The article cited sources suggesting his fate hung “in the balance,” adding to the uncertainty that had shadowed the NNPC leadership over the past few weeks.
The report linked Ojulari's supposed precarious positions to internal concerns at the Presidency over some past deals involving Atiku Abubakar’s son-in-law, Gbolahan Obanikoro.
Similarly, Punch reported that the Economic and Financial Crimes Commission received a petition against the NNPCL boss.
NNPC boss speaks despite resignation rumours
Despite the controversies, Ojulari delivered a virtual presentation that spanned topics from energy justice to geopolitical capital flows.
Ojulari, addressing the attendees, emphasised continuity and articulated his vision for the Nigerian energy sector.
Source: Facebook
His speech focused on broader themes of energy justice and sustainable development, as Businessday reports.
He also advocated for Africa to chart its course in the energy transition, stressing the importance of natural gas as a transitional fuel while ensuring equitable energy access across the continent.
His words:
“The energy transition must not be imposed. It must be negotiated, contextualised; there is a need for natural gas to remain a key transitional fuel for the continent.
“We cannot ignore the reality that millions in Africa still lack basic energy access,” he said. “Our approach must be grounded in energy justice, providing access while transitioning responsibly.”
NNPC shares 100 achievements under Bayo Ojulari
Earlier, Legit.ng reported that NNPC released the achievements of Bashir Bayo Ojulari after his first 100+ days in office.
The company said that under Ojulari’s leadership, there have been improvements in production, cost control, transparency, and clean energy.
The NNPC noted that under his leadership, the company has been able to deepen collaboration with upstream partners, achieving growth in oil and gas production while maintaining 100% pipeline availability.
Other achievements listed also include the company's timely cash call payment.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
