Tension and confusion continue to mount within Nigeria’s oil and gas sector following unconfirmed reports that the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, may have resigned from office.
More than 24 hours after the reports first surfaced online, the Presidency and the national oil company have maintained silence on the matter, fueling speculation and anxiety across the industry.
Ojulari, a former Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo), was appointed by President Bola Tinubu on April 2, 2025, as part of a sweeping overhaul of NNPCL’s management and board. Since his appointment, he has remained relatively low-profile, with limited media engagement.
Attempts to get official confirmation or denial from the Presidency yielded no result. A top official, who declined to be named, said the matter was not within the remit of the Presidential Villa, and advised journalists to contact NNPCL for clarification.
However, efforts to reach NNPCL officials for comments were unsuccessful, as the company has yet to issue any official statement on the development.
The situation has been further complicated by the absence of a functioning Corporate Communications department at NNPCL. The former Chief Corporate Communications Officer, Mr. Olufemi Soneye, resigned on June 21, 2025, and a replacement has not been publicly announced.
Since Soneye’s exit, media inquiries to the department have gone unanswered, leaving a critical gap in the company’s external communications. Journalists have also found access to the NNPC Towers increasingly difficult, with new restrictions requiring prior clearance and a physical invitation from internal staff.
Meanwhile, both the Department of State Services (DSS) and the Economic and Financial Crimes Commission (EFCC) have declined to comment on reports suggesting possible investigations or involvement in the matter. Officials of both agencies insisted that they do not speak for NNPCL and would not be drawn into speculation.
Efforts to reach Mr. Ojulari directly also proved abortive, as calls and messages to his known contact lines were not answered as of press time.
An internal source at NNPCL, who spoke on condition of anonymity, dismissed the resignation claims but admitted that the rumors had caused disruptions within the organization.
“As far as I know, Mr. Ojulari has not resigned. The reports are causing distractions internally. He was just settling into the role and now everyone is uncertain. Hopefully, clarity will return soon,” the source said.
With no official response from the company or its principal officers, the situation continues to create a cloud of uncertainty around NNPCL’s leadership at a time when stability in the oil and gas sector is crucial to national revenue and investor confidence.
VANGUARD
