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.
