Abuja, Nigeria — Barely four months after his appointment as Group Managing Director/Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), industry sources say hydrocarbon expert Mr. Ojulari has tendered his resignation from an undisclosed location a move that, if confirmed, could disrupt the most aggressive reforms seen at the state oil giant in decades.
Ojulari, appointed on April 3, 2025, amid sweeping management and board changes, was handpicked as part of what insiders hailed as a “dream team” of technocrats to restore transparency, efficiency, and profitability to an organisation long plagued by opacity, corruption, and inefficiency.
Under his leadership, NNPCL embarked on a rapid transformation drive:
- Financial transparency: ramping up disclosures, tightening procurement processes, and enforcing rigorous project due diligence.
- Operational efficiency: dismantling patronage networks, professionalising the workforce, and enforcing merit-based appointments.
- Global competitiveness: exploring digital transformation, cost optimisation, and new revenue streams.
His tenure comes in the wake of the government’s landmark subsidy removal a move designed to dismantle long-entrenched corruption networks, stimulate private sector investment, and end Nigeria’s dependence on imported refined petroleum products. The policy shift has already triggered a surge in private refining projects, including the 650,000 barrels-per-day Dangote Refinery, now emerging as a disruptor in the African and European energy markets.
However, the NNPCL’s chronic challenges from failed refinery revamps to mounting financial leakages have proven resistant to quick fixes. The most controversial episode in recent years was the Port Harcourt refinery “turnaround maintenance” project, which consumed billions without producing refined fuel. That debacle preceded the April 2025 removal of Mele Kyari, NNPCL’s longest-serving GMD, who oversaw the company’s 2022 transition from a corporation to a limited liability entity.
Industry observers now warn that Ojulari’s reported resignation may be the result of sustained pushback from entrenched interest groups. “The cabals are going for the jugular,” one senior oil sector source told The National Day. “They see transparency as a threat to their control of the value chain.”
Ojulari’s career spans over 30 years in oil and gas, including top leadership roles at Shell Nigeria Exploration and Production Company, where he championed deepwater development and local content. His international portfolio also includes stints in the Middle East and Europe.
The prospect of his exit has raised alarm among reform advocates who view him as Nigeria’s best chance in years to transform the NNPCL into a profitable and globally competitive national oil company akin to Saudi Aramco or Brazil’s Petrobras.
“If Ojulari leaves, it will send a signal that vested interests still have the upper hand,” said a Lagos-based energy analyst. “It risks shattering the fragile ‘Renewed Hope’ for a sanitised and efficient NNPCL.”
As of press time, the Presidency and NNPCL have not issued formal statements regarding the reported resignation.
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