Reforms in NNNPCL under Ojulari increase Nigerians’ trust in Tinubu’s administration – group says

Reforms in NNNPCL under Ojulari increase Nigerians’ trust in Tinubu’s administration – group says

From our correspondent

Abuja (Core Reporters) -The Center for Reforms and Good Governance (CRGG) has hailed the transformative leadership of Engr. Bashir Bayo Ojulari as the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), saying sweeping reforms under his leadership have significantly increased public confidence in the administration of President Bola Ahmed Tinubu.

In a statement signed by its Executive Director, Maxwell Onazi, the Center described Ojulari’s tenure since his appointment on April 2, 2025, as a defining chapter in the commercialization and professionalization of Nigeria’s national oil company.

According to the CRGG, Ojulari’s results-oriented approach has produced measurable gains in upstream production, financial performance, transparency, infrastructure delivery and investor confidence, reversing years of opacity and operational inefficiency.

The Center noted that these achievements directly align with the Renewed Hope Agenda and demonstrate the administration’s ability to appoint competent technocrats who can deliver tangible national value.

“Engineer Bayo Ojulari has demonstrated that with disciplined leadership, commercial focus and commitment to transparency, NNPCL can be transformed from a historically loss-making entity into a profitable, investor-ready national asset,” Maxwell Onazi said.

“The increase in production, the restoration of regular remittances to the Federal Account, the unprecedented financial revelations and the unlocking of multi-billion-dollar investments are not abstract achievements.

“They are concrete proof that the Tinubu administration’s reforms in the oil and gas sector are working and that Nigerians can once again have confidence that their most strategic national asset is being managed with integrity and competence.”

The Center highlighted the dramatic increase in upstream production under Ojulari’s watch.

According to the CRGG, only the first half of 2026 has produced clear evidence of the transformation. NNPCL recorded ₦19.04 trillion in revenue and ₦2.28 trillion in after-tax profits between January and June 2026, while statutory remittances to the Federation account reached ₦6.286 trillion in the same period and rose to ₦7.913 trillion by the end of July, including a monthly payment of ₦1.627 trillion in July.

These figures, the Center noted, represent a decisive break from past patterns of irregular transfers and limited disclosure.

“The half-year 2026 numbers speak louder than any rhetoric. Revenues of ₦19.04 trillion, profit after tax of ₦2.28 trillion and nearly ₦8 trillion paid into the Federation account in seven months show that NNPCL is now operating as a true business entity delivering value to the Nigerian people,” Maxwell Onazi said.

“When citizens see consistent, transparent remittances and rising production under leadership appointed by this administration, their confidence in President Tinubu’s broader reform agenda naturally increases.

“Ojulari’s findings made this connection clear and credible.”

The Center also highlighted the operational benefits that supported financial performance.

Domestic crude oil production was held at levels above 1.7 million barrels per day through much of 2026, reaching peaks of about 1.73 million barrels per day, the highest in five years.

NNPC Exploration and Production Limited continued to experience strong production, with previous records of 355,000 barrels per day in late 2025 extended to higher peaks of approximately 365,000 barrels per day.

Gas production also strengthened, reaching 7,841 million standard cubic feet per day in June 2026, supporting the administration’s push toward gas-based industrialization.

Progress in infrastructure has been equally impressive, the group added. The Ajaokuta-Kaduna-Kano (AKK) and Obiafu-Obrikom-Oben (OB3) pipelines are 94% and 98% complete in 2026, respectively, while major upstream projects such as Bonga Southwest-Aparo have moved closer to delivering additional barrels and jobs.

“Cost discipline remained a priority, with the Ojulari team achieving $3.4 billion in savings through systematic contract reviews and optimizations.

“These are not isolated successes. Increased production, increased gas production, near completion of critical pipelines and multibillion-dollar cost savings form a coherent picture of a national oil company that is finally being managed with commercial rigor,” Onazi said.

The Center for Reform and Good Governance concluded that Ojulari’s first year-plus in office set a new benchmark for public sector performance and provided a clear demonstration that competent, reform-minded leadership can deliver results that benefit the entire nation.

He called on stakeholders to support the ongoing transformation so that the benefits already recorded can be consolidated and expanded in the years to come.