NNPCL Controversy: Analyst Defends Ojulari, Speaks on His Achievements
- Temitope Agboola, a Lagos-based banker and industry analyst, has reacted to the growing criticism and political tensions surrounding the NNPCL
- Agboola defended the leadership of Bayo Ojulari in the Nigerian National Petroleum Company Limited (NNPCL) amid the controversy
- According to Agboola, the new NNPCL boss has made notable progress since assuming office on April 2, 2025, in the state-run oil company
Legit.ng journalist Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
Lagos, Nigeria - Bashir Bayo Ojulari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), has received backing amid growing criticism.
Temitope Agboola, industry analyst, defended Ojulari amid political tensions surrounding the state-run oil company.

Source: Twitter
Agboola said the new NNPCL boss made notable progress in restructuring internal systems, promoting transparency, and strengthening external oversight mechanisms.
He stated this in a commentary made available to Legit.ng on Wednesday, August 6, 2025.
“Internal operations are now benchmarked against clear metrics, while contract processes have been overhauled to improve transparency.”
Agboola noted that Ojulari had welcomed external audits and responded cooperatively to Senate inquiries into past transactions, including those that predated his tenure.
The Lagos-based banker said that despite the reported progress, NNPCL’s reform efforts have not been without controversy.
The industry analyst alleged that resistance has emerged from “vested interests” opposed to increased transparency and accountability within the company and the broader oil sector.
According to Agboola, these efforts risk undermining progress.
“Attempts to derail Ojulari’s leadership, whether through smear campaigns, internal resistance, or bureaucratic stonewalling, are not attacks on one man. They are attacks on every Nigerian who wants a better, stronger country.”
Ojulari's achievements
Agboola said Ojulari’s reforms include an effort to revive Nigeria’s dormant refineries in Port Harcourt, Warri, and Kaduna.
He said the NNPCL is reportedly working with international and local partners to restore these facilities to produce up to 150,000 barrels per day within 18 months.

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Analysts say that if successful, the refinery overhaul could reduce Nigeria’s dependence on fuel imports and improve domestic supply.
The banker added that NNPCL under Ojulari began publishing its audited financial statements, including disclosure of a $6 billion debt.
Agboola said this step had boosted investor confidence and contributed to a partial plan to list some of the company’s non-core assets to raise capital.
NNPC's Ojulari breaks silence amid rumoured resignation
Following the speculation about his resignation, NNPC's Ojulari 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.
NNPC shares 100 achievements under Ojulari
Earlier, Legit.ng reported that NNPC released the achievements of 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.
Source: Legit.ng