When Bayo Ojulari take over as Group CEO of NNPC Limited, di energy world bin dey watch am well well. Dis na engineer wey spend over 30 years for Shell, including as Managing Director of Shell Nigeria Exploration and Production. Dem hand am Africa biggest national oil company with instruction to run am like private multinational.
Di expectations bin high and clear. He promise $30 billion investment by 2027 and production target of two million barrels per day. He enter office after NNPC don change to limited liability company under di Petroleum Industry Act, a time wey need different kind of leadership.
Fifteen months don pass, and di numbers from im own camp dey believable. Key pipelines like Trans Niger and Forcados achieve full availability. Crude export terminals hit 98% operational recovery rate. He also introduce NNPC first Group Earnings Call and real-time production dashboards.
But there be failure points. Nigeria four state-owned refineries still dey offline, and Ojulari make matters worse by public confession say NNPC no fit run dem profitably. Di OB3 Gas Pipeline and di Ajaokuta-Kaduna-Kano pipeline miss commissioning deadlines. National output still dey fall short of Nigeria OPEC quota.
Im early months bin turbulent, with union disputes, parliamentary probes, and resignation controversy for August 2025 wey unsettle investors before dem clear am to continue. Wetin dey ahead na gas-focused strategy, according to experts. A 20-year supply deal to revive di Ajaokuta Steel Complex don sign, and Final Investment Decision on floating LNG project dey expected by year-end. State refineries go likely shift to private partnerships instead of NNPC management. Ojulari don name political pressure as im greatest threat. Dat one fit prove more accurate than any production figure.
