On April 2, 2025, President Bola Tinubu appointed Bayo Ojulari as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC). This announcement marks a major shift in the leadership of Nigeria’s state-owned oil company, following the NNPC board’s dissolution and Mele Kyari’s removal.
With over three decades in the oil and gas industry, Ojulari steps into the role at a crucial time, as Nigeria seeks to boost production, tackle oil theft, and implement post-Petroleum Industry Act (PIA) reforms.
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The Man Behind the Appointment
Bayo Ojulari, a seasoned engineer, earned his degree in Mechanical Engineering from Ahmadu Bello University in 1989. His career began at Elf Petroleum Nigeria as a Fields and Process Engineer before joining Shell Petroleum Development Company (SPDC) in 1991. He climbed the ranks over the next 24 years, holding key positions in Nigeria, Europe, and the Middle East.
Ojulari’s expertise spans petroleum engineering, process optimization, and strategic leadership. As Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo) from 2015 to 2021, he oversaw operations at the Bonga oil field, Nigeria’s first deepwater project, and played a vital role in increasing production efficiency while cutting operational costs.
Transforming Shell’s Deepwater Operations
During his tenure at Shell, Ojulari implemented cost-saving measures that reduced operational expenses by 30% and improved production efficiency by 20%. His leadership helped Shell’s deepwater operations achieve production levels of up to 320,000 barrels per day. He also played a key role in renegotiating production-sharing contracts and securing multibillion-dollar investments in Nigeria’s offshore oil sector.
Beyond Shell: Private Sector Influence
After leaving Shell in 2021, Ojulari founded BAT Advisory & Energy Company Nigeria Ltd, a consultancy firm focused on strategic advisory services in the energy sector. In 2024, he became the Executive Vice President and Chief Operating Officer at Renaissance Africa Energy Company. His recent role saw him leading a consortium in the $2.4 billion acquisition of Shell’s equity in the Shell Petroleum Development Company (SPDC) Joint Venture.
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The Road Ahead for NNPC
Ojulari takes the helm of NNPC at a time when Nigeria’s oil sector faces pressing challenges. Oil production has struggled, falling below 1 million barrels per day in 2022. The new administration aims to ramp up production to 2 million barrels per day by 2027 and 3 million by 2030. Addressing oil theft, revitalizing refineries, and aligning NNPC’s assets with national economic goals will be key priorities.
With his extensive industry experience and track record of operational success, Bayo Ojulari is poised to lead NNPC through its next phase of transformation. His leadership will be instrumental in shaping Nigeria’s energy future and ensuring the country’s oil sector remains competitive in the global market.