“Fresh leadership changes are expected at NNPCL and its subsidiaries as newly appointed GCEO Bayo Ojulari officially assumes office.”
President Bola Tinubu’s newly appointed NNPCL leadership, led by Group CEO Engineer Bayo Ojulari, is poised to implement sweeping organizational changes across the state oil company and its extensive subsidiaries. Reliable sources confirm the restructuring will span all operational areas – including upstream, gas/power, downstream and non-energy businesses – with the stated goal of placing “round pegs in round holes” to better achieve national energy objectives. The shakeup is expected to impact over 20 subsidiaries such as NNPC Trading Limited, NNPC Retail, and NNPC Gas Infrastructure Company, signaling a comprehensive transformation of Africa’s largest oil company.
Energy experts have already begun setting agendas for the new management, with prominent economist Prof. Wumi Iledare urging critical reforms including revisiting crude-for-naira deals with local refineries and partial privatization of NNPCL shares. “The new team must disavow agency mindset…and focus on the commercial mandate in the PIA law,” Iledare told Vanguard, emphasizing the need to restructure joint venture arrangements and fully implement the Petroleum Industry Act’s vision. As staff welcome the new leadership, industry watchers anticipate these changes could mark Nigeria’s most significant oil sector reorganization in a decade.
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