The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has raised an alarm over alleged threats to his life and that of the company's management staff following reforms he introduced in the oil and gas sector.
Speaking on Thursday while receiving a delegation of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the company's headquarters in Abuja, Ojulari claimed that powerful interests are plotting to remove him from office due to his efforts to revive Nigeria's moribund 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 stated during the meeting.
The NNPCL boss revealed that the company is considering adopting an NLNG-style partnership model with "a professional refinery company" to ensure the sustainability and profitability of Nigeria's refineries. According to him, this decision came after technical and commercial reviews indicated that running the refineries without professional partnerships would continue to drain resources.
"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.
Ojulari emphasized that the reforms had unsettled vested interests, triggering coordinated attacks against him and his management team, including petitions to the Economic and Financial Crimes Commission (EFCC).
Despite these challenges, he assured staff that their jobs would not be threatened by the reforms, stressing that new opportunities and training would emerge as the refineries are modernized. He projected that within the next two to three years, at least one or two of the nation's refineries would be fully operational to meet growing demand in sub-Saharan Africa.
On the fuel supply situation, Ojulari noted that there had been no major shortages due to strategic partnerships, including NNPCL's equity stake in the Dangote Refinery.
The President of PENGASSAN, Comrade Festus Osifo, who led the delegation, expressed gratitude to the NNPCL management for its partnership during the recently held 2025 PENGASSAN Energy and Labour Summit (PEALS) in Abuja. The union also acknowledged what it described as "remarkable milestones" recorded under Ojulari's leadership.
"Our pipelines are now working. Also, crude oil theft has significantly reduced, leading to increased production. As PENGASSAN, we assure you that we are solidly behind you. We will work with you and collaborate with your team to ensure the stability of the system for the benefit of all Nigerians," Osifo stated.
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