By John Umeh
Stakeholders Anxious as Ojulari Exit Rumors Go Unaddressed by NNPC, Presidency
The Nigerian oil and gas industry is currently gripped by uncertainty following swirling rumors about the alleged resignation or removal of Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd). Despite the intensity of the speculations, both the NNPC and the Presidency have failed to provide clear, timely communication to either confirm or dispel the reports, leaving stakeholders and industry observers deeply concerned.
The rumors gained traction after unverified reports claimed that Ojulari had been detained by security operatives and forced to sign a resignation letter. This dramatic claim, which has not been officially confirmed by any government agency, ignited a wave of confusion across media outlets and among civil society groups. While some sources suggest that Ojulari remains in office, the lack of a decisive, public statement from either the NNPC or the Presidency has only fueled suspicion and anxiety.
Stakeholders within the oil and gas sector, including investors, regulatory observers, civil society organizations, and internal staff at NNPC, have expressed frustration over the silence from official quarters. For many, the issue goes beyond whether Ojulari remains in his position—it reflects broader concerns about transparency, governance, and political interference in Nigeria’s most critical revenue-generating industry.
Civil society groups are also sharply divided. Some are calling for Ojulari’s immediate investigation over alleged mismanagement and questionable financial transactions, including claims involving billions of naira in unaccounted funds. Others, however, have defended his leadership, pointing to his ongoing reform efforts aimed at increasing operational efficiency and reducing corruption within NNPC. These pro-reform groups warn that the rumors may be part of a larger ploy by vested interests within the system to derail his progress and reverse reforms.
The tension is further heightened by protest movements staged outside the National Assembly, NNPC headquarters, and anti-corruption agency offices, with demonstrators either demanding Ojulari’s removal or calling for the protection of his reformist agenda.
In the absence of a clear, unified response from the top levels of government, speculation continues to fill the vacuum. For a state-owned corporation with immense economic significance, such leadership ambiguity could have serious implications—ranging from loss of investor confidence to delays in key projects and disruption of internal morale.
Ultimately, stakeholders are calling for President Bola Tinubu and NNPC leadership to break their silence. A clear statement
