Engr. Bayo Ojulari [/b]has been appointed as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL) by President Bola Ahmed Tinubu, replacing Mele Kyari, who had held the position since 2019. This appointment is effective immediately, as announced in a statement signed by Bayo Onanuga, Tinubu’s Special Adviser on Information and Strategy, in the early hours of Wednesday, April 2, 2025.
Ojulari’s appointment signifies a major shift in the leadership of Nigeria’s oil sector. With over 34 years of experience in the global oil and gas industry, he brings a wealth of expertise in petroleum asset acquisition, exploration, field development, production management, strategic planning, economics, investment evaluation, and commercial negotiations. His leadership is expected to help NNPC achieve its vision of maximizing oil production while ensuring that Nigeria’s economy benefits from increased value.
Born in Kwara State, Ojulari earned a degree in Mechanical Engineering from Ahmadu Bello University, Zaria. He began his career at Elf Petroleum Nigeria as a Fields & Process Engineer before joining Shell Petroleum Development Company of Nigeria Ltd in 1991 as an Associate Production Technologist. Over the next 24 years, he held several leadership positions across Nigeria, Europe, and the Middle East, giving him a broad, global perspective on energy management.
As the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo) from 2015 to 2021, Ojulari was in charge of deep-water assets with a production capacity of 320,000 barrels per day and an annual operating cost of $1 billion. Under his leadership, SNEPCo achieved significant increases in production, reduced operational costs, and greatly improved capital efficiency. His efforts earned the Bonga Asset the prestigious "Asset of the Year" award in 2016.
Ojulari also played a key role in negotiating complex commercial agreements, securing new production-sharing contracts, and resolving disputes regarding Oil Mining Lease (OML) 118, which paved the way for multi-billion-dollar growth projects. His expertise and leadership have solidified his reputation as a strategic figure in the energy sector, and he has held various significant positions throughout his career.
Before being appointed NNPC GCEO, Ojulari was the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. In this capacity, he led a consortium of indigenous energy firms in the landmark $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC). He has also served as the Board Chairman of BAT Advisory & Energy Company, providing high-level business and technical advisory services, and has been involved in key roles in companies like ND Western Limited and Trewan Energy Limited.
Ojulari's appointment comes at a critical time for NNPCL, which is facing numerous challenges, including pipeline vandalism, oil theft, and the urgent need to diversify Nigeria’s energy portfolio. His vast experience in managing complex projects in challenging environments positions him as the ideal leader to address these issues. Additionally, with the federal government aiming to increase oil production beyond two million barrels per day, Ojulari is expected to drive efficiency, boost revenue generation, and implement transformative policies to reshape Nigeria’s oil and gas industry for a more prosperous future.