Engr. Bayo Ojulari has been appointed as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL) by President Bola Ahmed Tinubu, following the removal of Mele Kyari.
The appointment, which takes immediate effect, was announced in a statement signed by Bayo Onanuga, Tinubu’s Special Adviser on Information and Strategy, in the early hours of Wednesday, April 2.
Ojulari’s appointment marks a significant shift in Nigeria’s oil sector leadership.
With over 34 years of experience in the global oil and gas industry, he brings extensive expertise in petroleum asset acquisition and divestments, exploration, field development, production management, strategic planning, economics, investment evaluation, and commercial negotiations.
His leadership is expected to drive NNPC’s vision of maximizing oil production while ensuring increased value for Nigeria’s economy.
Born in Kwara State, Ojulari earned a degree in Mechanical Engineering from Ahmadu Bello University, Zaria.
He started 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, gaining a global perspective on energy management.
During his tenure as Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo) from 2015 to 2021, Ojulari oversaw 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 recorded a significant increase in production, a reduction in operational costs, and an overall improvement in capital efficiency.
His efforts earned the Bonga Asset the prestigious “Asset of the Year” award in 2016.
He also played a key role in negotiating complex commercial agreements, securing new production-sharing contracts, and resolving disputes related to Oil Mining Lease (OML) 118, setting the stage for multi-billion-dollar growth projects.
Beyond his time at Shell, Ojulari has held key positions that further solidified his reputation as a strategic leader in the energy industry.
Before his appointment as NNPC GCEO, he was the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company.
In this role, he was instrumental in leading a consortium of indigenous energy firms in the landmark $2.4 billion acquisition of Shell Petroleum Development Company of Nigeria (SPDC).
He also served as the Board Chairman of BAT Advisory & Energy Company, providing high-level business and technical advisory services, and played a significant role in companies such as ND Western Limited and Trewan Energy Limited.
Ojulari’s appointment comes at a time when NNPCL faces major challenges, including pipeline vandalism, oil theft, and the urgent need to diversify Nigeria’s energy portfolio.
His extensive experience in managing complex projects and delivering results in challenging environments positions him as the ideal leader to navigate these obstacles.
With the federal government’s focus on increasing oil production beyond two million barrels per day, Ojulari is expected to drive efficiency, enhance revenue generation, and implement transformative policies to reshape Nigeria’s oil and gas industry.
