NNPCL Boss Ojulari Alleges Threats, Plot to Oust Him Over Oil Sector Reforms

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has raised alarm over what he describes as coordinated threats to his life and efforts to remove him from office.

Speaking on Thursday during a visit from the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the company’s Abuja headquarters, Ojulari claimed that certain powerful interests are opposed to the reforms he is implementing in line with President Bola Tinubu’s directive to revive Nigeria’s struggling refineries.

“We are under attack. It is real. There are formidable plans to take me out of this seat. But we are determined to stay focused and deliver on the mandate given to us by President Tinubu,” Ojulari said.

He alleged that petitions had already been filed with the Economic and Financial Crimes Commission (EFCC) as part of a broader attempt to discredit his leadership and derail reform efforts.

Ojulari revealed that the company is considering a partnership model similar to Nigeria LNG (NLNG), involving professional refinery operators, to turn around the performance of the country’s refineries.

“A lot of money has been spent on these refineries, but translating that into profitability has been difficult because of years of neglect. When I resumed, we found that we were losing between $300 million and $500 million monthly. We had to stop operations and look for a sustainable solution,” he explained.

Despite the resistance, Ojulari reassured NNPCL staff that no jobs would be lost under the reform plan, and instead, the modernization process would open up new training and employment opportunities.

On fuel supply, he said Nigeria had avoided major shortages due to strategic partnerships, especially NNPCL’s equity stake in the Dangote Refinery. He predicted that one or two of Nigeria’s refineries would become fully operational within two to three years, helping meet energy demand across sub-Saharan Africa.

PENGASSAN President, Comrade Festus Osifo, lauded Ojulari’s efforts, highlighting notable improvements in production and pipeline security since he assumed office. He assured the union’s continued support for the company’s reform agenda.