NNPC Ojulari Breaks Silence on Plans to Remove Him from Office amid Protests
- NNPC's new management has disclosed that there is a plan by some persons to remove him and other senior executives from office
- He linked the plot to reforms introduced by the company’s new management to transform the national oil company
- Several protests have been held against Ojulari and were recently reported to the EFCC for investigation
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Bayo Ojulari, Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPC Limited), has said there is a coordinated attack to remove him and other senior executives from office.
Ojulari revealed that several members of the company’s leadership, including the Chief Financial Officer, Executive Vice Presidents and other senior executives, have also faced legal actions, petitions and harassment from various quarters.
Source: Getty Images
According to him, although the ongoing reforms seek to transform the oil and gas sectors, some people feel threatened by them.
Ojulari disclosed that many members of the company’s leadership, including the Chief Financial Officer, Executive Vice Presidents and other top officials, have equally faced lawsuits, petitions and harassment from different groups.
His words:
“We are under attack. And I repeat again, NNPC, we are under attack. There is no hiding around all the attacks that I have received and all the plans to take me out of the seat. Let us not pretend. It is a real formidable plan. So, anybody that tells you that it’s fake, it’s not fake. It’s true."
He expressed determination to achieve his objective as the head of NNPC and also defended the decision to freeze NNPC’s refinery operations.
He explained that the refineries were losing $300 million to $500 million monthly, with little output to show for it.
Source: Getty Images
NNPC boss added that up to 150,000 barrels of crude oil a day are supplied to the plants, but only 40% of it was refined into products, much of which failed to meet market standards, Cable reports.
He continued:
“Only half of the refinery was working. The way it was designed, the old and new units are supposed to function as one system. Operating one without the other was setting us up for failure."
Ojulari revealed that technical and commercial reviews of the three refineries had been completed, and NNPC was seeking a partnership with a professional refining company to co-run the Port Harcourt refinery on a commercially viable basis, Sun reports.
He further stated:
“It is not just about getting them to work. They must be profitable or at least break even. We are not going to throw public funds into a pit again."
NNPC slashes petrol prices
Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) announced a reduction in its petrol pump price on Wednesday, July 16, 2025, for its Lagos retail stations.
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Checks showed that in Lagos, NNPC retail outlets were selling fuel at N865 per litre to motorists.
The new price for Lagos reflects a N20 reduction, bringing the pump price down from N885 to N865 per litre.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
