Governance
‘Reforms in NNPCL under Ojulari have increased Nigerians’ trust in current administration’ – Centre
The Centre for Reforms and Good Governance (CRGG) has hailed the transformative leadership of Engr. Bashir Bayo Ojulari as Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), declaring that the sweeping reforms under his stewardship have significantly boosted public confidence in President Bola Ahmed Tinubu’s administration.
In a statement signed by its Executive Director, Maxwell Onazi, the Centre described Ojulari’s tenure since his appointment on April 2, 2025, as a defining chapter in the commercialisation and professionalisation of Nigeria’s national oil company.
According to the CRGG, Ojulari’s results-driven approach has delivered measurable gains across upstream production, financial performance, transparency, infrastructure delivery and investor confidence, reversing years of opacity and operational inefficiency.
The Centre noted that these outcomes align directly with the Renewed Hope Agenda and demonstrate the administration’s capacity to appoint competent technocrats capable of delivering tangible national value.
“Engr. Bayo Ojulari has shown 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 stated.
“The surge in production, the restoration of regular Federation Account remittances, the unprecedented financial disclosures and the unlocking of multi-billion-dollar investments are not abstract achievements.
“They are concrete evidence that the Tinubu administration’s reforms in the oil and gas sector are working and that Nigerians can once again trust that their most strategic national resource is being managed with integrity and competence.”
The Centre highlighted the dramatic rise in upstream output under Ojulari’s watch.
According to the CRGG, the first half of 2026 alone produced clear evidence of the transformation. NNPCL recorded ₦19.04 trillion in revenue and ₦2.28 trillion in profit after tax between January and June 2026, while statutory remittances to the Federation Account reached ₦6.286 trillion in the same period and climbed to ₦7.913 trillion by the end of July, including a single-month payment of ₦1.627 trillion in July.
These figures, the Centre noted, represent a decisive break from past patterns of irregular transfers and limited disclosure.
“The 2026 half-year numbers speak louder than any rhetoric. Revenue of ₦19.04 trillion, profit after tax of ₦2.28 trillion and nearly ₦8 trillion remitted to the Federation Account in seven months show that NNPCL is now operating as a true commercial entity that delivers value to the Nigerian people,” Maxwell Onazi stated.
“When citizens see consistent, transparent remittances and rising production under a leadership appointed by this administration, their trust in the broader reform agenda of President Tinubu naturally increases.
“Ojulari’s results have made that connection clear and credible.”
The Centre further highlighted the operational gains that underpinned the financial performance.
National crude oil production has been sustained at levels above 1.7 million barrels per day for much of 2026, reaching peaks of approximately 1.73 million barrels per day, the highest in five years.
NNPC Exploration and Production Limited continued to post strong output, with earlier records of 355,000 barrels per day in late 2025 extended into higher peaks of around 365,000 barrels per day.
Gas production also strengthened, hitting 7,841 million standard cubic feet per day in June 2026, supporting the administration’s gas-based industrialisation push.
“Infrastructure progress has been equally notable, the group added. “The Ajaokuta–Kaduna–Kano (AKK) and Obiafu–Obrikom–Oben (OB3) gas pipelines advanced to 94 per cent and 98 per cent completion respectively in 2026, while major upstream projects such as Bonga Southwest-Aparo moved closer to delivering additional barrels and jobs.
“Cost discipline remained a priority, with Ojulari’s team achieving $3.4 billion in savings through systematic contract reviews and optimisation.
“These are not isolated successes. Higher production, stronger gas output, near-completion of critical pipelines and multi-billion-dollar cost savings form a coherent picture of a national oil company that is finally being run with commercial rigour,” Onazi said.
The Centre for Reforms and Good Governance concluded that Ojulari’s first year-plus in office has 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.
It called on stakeholders to sustain support for the ongoing transformation so that the gains already recorded can be consolidated and expanded in the years ahead.