UGO AMADI
As Engineer Bashir Bayo Ojulari, a seasoned leader and administrator takes the lead as the new Group Chief Executive officer of Nigerian National Petroleum Company (NNPC) Limited, Nigerians and other critical stakeholders are in high expectation to see more transformational changes in the national company and in the sector at large.
It will interest you, to know that Ojulari faces the daunting task of steering the company through Nigeria’s post-Petroleum Industry Act (PIA) reforms, tackling oil theft, improving production output, and maximizing energy revenues for national development.
However, energy pundits are optimistic on the new board members, who are purely industry technocrats and operators, who understands the international and national energy ecosystem.
Apart from the mandate from the presidency many Nigerians are expecting the NNPCL to reduce fuel prices, especially with the anticipated increase in local refining capacity. Also, Nigerians hope that the NNPCL will ensure a stable and reliable energy supply, reducing the country’s dependence on imported fuel.
Increased Transparency and Accountability: There are expectations that the NNPCL will operate with greater transparency and accountability, providing regular updates on its operations and financial performance.
Economic Growth and Job Creation: Nigerians are also hoping that the NNPCL will contribute to the country’s economic growth and job creation, particularly in the energy sector.
Better Management of Refineries: With the Dangote refinery coming online, Nigerians expect the NNPCL to efficiently manage the country’s refineries, reducing waste and increasing productivity. In overall, Nigerians are looking to the NNPCL to deliver on its promises and improve the country’s energy landscape.
Here is the new mandate
However, while thanking the old board members for their dedicated service to NNPC Limited, particularly their efforts in rehabilitating the old Port Harcourt and Warri refineries, which enabled them to resume petroleum product production after prolonged shutdowns.
President Ahmed Bola Tinubu charged the new board to immediately conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives.
The president also, emphasised that the board’s restructuring is crucial for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialisation and diversification.
It is important to note that since 2023, the Tinubu administration has implemented oil sector reforms to attract investment. Last year, NNPC reported $17 billion in new investments within the sector. The administration now envisions increasing the investment to $30 billion by 2027 and $60 billion by 2030.
The Tinubu administration targets raising oil production to two million barrels daily by 2027 and three million daily by 2030. Concurrently, the government wants gas production jacked to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.
Furthermore, President Tinubu expects the new board to elevate NNPC’s share of crude oil refining output to 200,000 barrels by 2027 and reach 500,000 by 2030.
The 11 man squad
A proper review of the portfolio of the new 11 board members shows men of great capacity and extra ordinary thinkers, who have excelled in their various life endeavours.
The primus inter pares is Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman. Adedapo Segun, who replaced Umaru Isa Ajiya as the chief financial officer last November.
Other Six board members, non-executive directors, represent the country’s geopolitical zones. They are Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas( NLNG), who represents North Central.
Austin Avuru non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.
For gender inclusion , Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.
Who is Bashir Bayo Ojulari
Mr Ojulari is an energy expert who describes himself as “a business leader with a proven track record in the global energy sector.”
He is a seasoned Nigerian engineer with expertise in petroleum, process, and production engineering.
He began his career as the first Nigerian process engineer at Elf Aquitaine before joining Shell Petroleum Development Company in 1991.
Born and raised in Nigeria, Ojulari’s journey to the pinnacle of the country’s petroleum sector began at Ahmadu Bello University, where he earned a Bachelor of Engineering in Mechanical Engineering in 1989.
His academic background laid the groundwork for a career defined by technical expertise and strategic leadership in oil exploration, production, and energy management.
Soon after graduation, he began his career as a Fields and Process Engineer at Elf Petroleum Nigeria in 1989, gaining hands-on experience in production systems and operational efficiency.
His technical acumen quickly earned him a place at Shell, one of the world’s largest oil companies, where he would spend the next 24 years honing his expertise and rising through the ranks.
He was a fellow of the Nigerian Society of Engineers ,and a member of the board of trustees of the Society of Petroleum Engineers (SPE Nigeria Council) from 1998 to 1999.
Decades at Shell: From Engineer to Managing Director
Ojulari’s tenure at Shell Nigeria Exploration and Production Company (SNEPCo) was marked by transformative leadership.
After joining Shell in 1991, he rose to become a member of the Integrated Studies Team at Shell headquarters in the Netherlands in June 1994, a position he held till October 1995.
Between April 1997 and November 1999, he was the Head Planning Economics and Budgeting at SPDC Nigeria, from where he rose to become the Asset Leader and Head Production Technologist at Shell in Oman from December 1999 to September 2003.
He became the Sub-Saharan Africa Regional Planner at Shell headquarters in October 2003 and held the position till December 2004.
From January 2005 to October 2008, he was the Manager, Corporate Planning and Strategy at SPDC Nigeria during which time he also briefly held the position of Asset Production Technologist from November 2006 to March 2007.
At Shell, he remained in Nigeria from then on, becoming the Manager, Asset Development (Onshore and Shallow Water) SPDC Nigeria from October 2008 to October 2010.
From January 2010 to October 2015, he was the Development Director at SPDC Nigeria, after which he rose to become the Managing Director of SNEPCo from November 2015 to July 2021 when he left the company.
From 2015 to 2021, he served as the company’s Managing Director, overseeing Shell’s deepwater assets, including the massive Bonga oil field, Nigeria’s first deepwater project.
Under his leadership, Shell’s deepwater operations expanded, producing up to 320,000 barrels per day, while he spearheaded cost-saving measures that reduced operational expenses by 30% and boosted production efficiency by 20%.
Beyond operational success, he played a crucial role in renegotiating production-sharing contracts and securing agreements for multibillion-dollar projects.
His ability to navigate complex regulatory landscapes and commercial negotiations helped secure investment in Nigeria’s offshore oil sector, a critical component of the nation’s economy.
Prior to his tenure as MD, Ojulari held key leadership roles within Shell, including Development Director at Shell Petroleum Development Company (SPDC) from 2010 to 2015, where he managed petroleum engineering operations for over 100 oil and gas fields and oversaw projects with a combined budget of $700 million.
Throughout his career, he has held managerial roles in Europe and the Middle East, specializing in petroleum engineering, process engineering, production engineering, and health and safety.
More insights
Following his time at Shell, Ojulari transitioned to the private sector, where he continued to influence Nigeria’s energy landscape. In 2021, he founded BAT Advisory & Energy Company Nigeria Ltd, providing strategic consultancy to leading oil and gas firms.
He later took on the role of Executive Vice President and Chief Operating Officer at Renaissance Africa Energy Company in 2024, focusing on sustainable energy solutions and business growth. His Renaissance recently led a consortium of indigenous energy firms in the landmark acquisition of the entire equity holding in the Shell Petroleum Development Company of Nigeria (SPDC), worth $2.4 billion.
His extensive experience in both corporate and advisory roles position him uniquely to lead NNPC at a time of evolving global energy policies and increasing pressure to reform Nigeria’s petroleum industry.
His appointment comes at a critical juncture for NNPC as the company navigates ongoing energy reforms, production challenges, and Nigeria’s broader economic strategy.
