CSOs commend Ojulari over NNPC Ltd’s N5.75trn profit, carpet critics

A coalition of civil society organisations has thrown its weight behind the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, describing his first year in office as a “masterclass in structural reform” driven by measurable progress rather than optics.

The Coalition of Civil Society Groups for Peace, Security, Good Governance, Equity and Justice (CCSG-PSGEJ) said recent criticisms of Ojulari’s leadership fail to capture the depth of reforms underway within Nigeria’s state oil company.

In a statement signed by its National Coordinator, Comrade James Okoronkwo, the coalition argued that what some critics described as slow execution is, in reality, a deliberate strategy focused on stabilisation and long-term transformation.

“While the Coalition welcomes robust public discourse, we must correct the skewed narrative that mistakes ‘precision planning’ for a ‘lack of execution,’” the group stated.

The CSOs pointed to financial performance as a key indicator of progress, noting that under Ojulari’s leadership, NNPCL is on track to record a ₦5.76 trillion profit after tax (PAT)—a figure they described as significant given global market volatility and Nigeria’s complex energy transition environment.

“In any global oil jurisdiction, a CEO who increases profitability while navigating a volatile transition is a visionary, not a laggard,” the statement read.

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Beyond profitability, the coalition highlighted improvements in upstream operations, particularly the recovery in production levels under the National Exploration and Production Limited (NEPL).

“Chief Ojulari inherited a production slump and, through the ‘Project Integrity’ initiative, has pushed NEPL production to a steady 330,000 barrels per day,” the group noted, attributing this to efforts aimed at curbing sabotage and restoring operational discipline.

The CSOs further emphasised that the current reforms should not be judged solely by short-term consumer-facing metrics such as fuel queues, but by strategic investments designed to reposition Nigeria’s energy sector.

“Execution isn’t just about PMS queues; it’s about future-proofing,” the statement said, citing progress on the AKK Gas Pipeline and developments along the Gbaramatu–Escravos axis as critical to boosting domestic gas supply and industrial growth.

According to the coalition, Ojulari’s role in advancing the “Naira-for-Crude” framework has also been pivotal in stabilising the downstream sector, particularly in enabling operations at the Dangote Refinery.

“This is the definition of high-stakes execution at scale,” the group asserted.

While acknowledging the importance of accountability and public scrutiny, the CSOs urged analysts and commentators to adopt a broader perspective when assessing leadership performance at NNPCL.

“Chief Bayo Ojulari is not a magician; he is a reformist. After 365 days of ‘draining the swamp,’ the NNPCL is finally ready for the skyscraper phase,” the statement added.