Ojulari’s Appointment as NNPCL GCEO Garners Praise from NEITI and Energy Editors
Abuja, Nigeria – In a move seen as pivotal for Nigeria’s oil and gas sector, Engr. Bayo Ojulari has been appointed as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL). The appointment has been warmly welcomed by both the Nigeria Extractive Industries Transparency Initiative (NEITI) and the Society of Energy Editors (SEE), each emphasizing the need for enhanced reforms, transparency, and accountability in the industry.
NEITI’s Call for Reforms and Transparency
NEITI’s Executive Secretary, Dr. Orji Ogbonnaya Orji, congratulated Ojulari on his appointment, stressing that his leadership comes at a critical juncture. With the ongoing reforms under the Petroleum Industry Act (PIA), Dr. Orji highlighted the need for renewed commitment to corporate governance and the systematic disclosure of key industry data.
“NNPCL, as Nigeria’s foremost national energy company, must uphold transparency and accountability in managing oil revenues. This is essential for driving national development and poverty reduction,” Dr. Orji said. He further urged the new leadership to prioritize the timely publication of financial statements, production data, operational costs, and revenue remittances to restore public trust and bolster Nigeria’s global reputation.
The outgoing GCEO, Mr. Mele Kyari, was also commended for his collaborative efforts with NEITI over the past six years, particularly in advancing transparency and aligning NNPCL with global Extractive Industries Transparency Initiative (EITI) standards.
Energy Editors See a Bright Future
The Society of Energy Editors (SEE) also expressed optimism about Ojulari’s appointment. In a statement signed by SEE Chairman, Mr. Yakubu Lawal, the Society emphasized that Ojulari’s extensive industry experience, both within Nigeria and internationally, positions him well to lead NNPCL through its transition to a fully commercial entity.
“The NNPCL is the heartbeat of Nigeria’s oil and gas industry. A successful transition under the Petroleum Industry Act will not only boost the sector but also have a lasting impact on the nation’s economic development,” the SEE statement read. The Society called for the establishment of productive partnerships between NNPCL and key stakeholders—including international oil companies, regulatory agencies, and local communities—to support sustainable growth and operational excellence.
SEE, which was launched in May 2024 to elevate the quality of energy journalism, reaffirmed its commitment to supporting Ojulari in his new role while continuing to promote robust, in-depth coverage of energy sector developments.
The Road Ahead
As NNPCL embarks on a path of strategic transformation, industry observers and stakeholders alike are keenly watching for initiatives that will ensure greater transparency, efficiency, and accountability. With strong endorsements from NEITI and SEE, the new GCEO is expected to steer the company towards global best practices, contributing significantly to the modernization of Nigeria’s energy sector.
Both NEITI and SEE remain committed to collaborating with the new leadership to ensure that NNPCL not only meets but exceeds international standards in corporate governance and financial transparency—a move that could redefine the landscape of Nigeria’s oil and gas industry.
