The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bashir Bayo Ojulari, has announced a bold new direction for the energy giant, focused on clean energy, strong governance, and sustainable growth beyond oil.
Speaking at the NOG Energy Week 2025 in Abuja, Ojulari revealed that the company is preparing to publish its first-ever performance report by the third quarter of 2025 a move aimed at boosting transparency and investor confidence. He also confirmed plans are in top gear to launch the long-awaited NNPCL Initial Public Offering (IPO).
Building Beyond Oil
Ojulari said NNPCL’s new focus goes “beyond the barrels,” as the company sets its sights on energy transition and long-term impact.
“We are producing oil to raise funds, but our real goal is to invest in gas, which is Nigeria’s transition fuel,” he stated.
He also revealed the company’s 2028 Strategic Roadmap, which outlines plans to embrace renewables like solar and biofuels, while cutting emissions with new technology.
Tackling Energy Poverty
Ojulari raised serious concern about energy poverty in Africa, citing UN data showing thousands of women and children still die yearly due to lack of access to clean cooking fuel.
“NNPCL will work with government to make clean cooking gas available in every part of Nigeria,” he assured.
A New Era of Accountability
On governance, Ojulari pointed to the Petroleum Industry Act (PIA) as the game-changer that allowed NNPCL to transform from a public body to a limited liability company, now operating like any international oil firm.
“We now have access to capital markets, and we’re building a culture of performance, teamwork, and accountability,” he said.
He revealed that by Q3 2025, NNPCL would release its first global-style performance report, and is working with experts to finalise the IPO launch.
NNPCL’s Vision for the Future
Ojulari also spoke about tapping into the company’s existing talents, noting that the challenge is not in skills, but in harnessing and supporting those talents better.
“We’re shifting the culture. We have talents but now we must align them with results.”
With a focus on incremental growth, transparency, and embracing cleaner energy solutions, Ojulari says NNPCL is no longer just an oil company it’s becoming a diversified energy player ready for the future.
