Bayo Ojulari, a former Shell executive, has been appointed the new Managing Director/Chief Executive Officer of NNPC Ltd, Nigeria’s state oil corporation.
The announcement was made on April 2, 2025, by the Nigerian Presidency, marking a significant step in President Bola Ahmed Tinubu’s efforts to overhaul the oil sector and boost Nigeria’s oil production and refining capacity.
The appointment follows a series of strategic economic reforms under President Tinubu’s administration, including the removal of costly subsidies and the devaluation of the naira.
Ojulari will replace Mele Kyari, whose tenure has come to an end.
The new leadership takes effect immediately, with the aim of driving efficiency and reforms within the state owned company.
Who is Ojulari
Ojulari, born and raised in Nigeria, began his journey to the top of the country’s petroleum sector at Ahmadu Bello University, where he earned a Bachelor’s degree in Mechanical Engineering in 1989.
Ojulari’s extensive experience in the oil and gas sector spans several decades. Prior to his appointment, he was the Chief Operating Officer at Renaissance Africa Energy Co, where he managed key operations in Nigeria’s oil and gas sector.
He had previously headed Shell Nigeria’s exploration unit, leading high profile projects and operational strategies.
With a background in mechanical engineering, Ojulari’s career began after he graduated with a degree in Mechanical Engineering from Ahmadu Bello University, Zaria.
His extensive work experience includes leadership roles across major multinational companies, solidifying his reputation as a seasoned executive in the oil and gas industry.
Ojulari’s career trajectory includes notable stints with Renaissance Africa Energy Co. and Shell, where he was integral in overseeing large scale exploration projects and was responsible for managing high-value operations in Nigeria.
Educational background and international expertise
Bayo Ojulari’s educational background in Mechanical Engineering from Ahmadu Bello University laid the foundation for his technical expertise and leadership capabilities in the energy sector.
He further honed his skills in the corporate world, leading a variety of operations, and successfully driving innovative projects.
His leadership skills and deep industry knowledge are expected to play a vital role in fulfilling President Tinubu’s vision for the Nigerian oil sector.
Ojulari’s appointment signals a forward looking approach to managing NNPC Ltd, with a strong focus on boosting production capacity and refining capabilities.
Focus on growth and efficiency
Ojulari’s appointment comes at a crucial time as NNPC Ltd. seeks to meet ambitious goals set by President Tinubu.
Nigeria aims to raise oil production to 2 million barrels per day by 2027 and boost its refining capacity to 200,000 barrels per day.
The company’s new leadership will be pivotal in achieving these targets, especially as the country continues to rely heavily on its oil sector for government revenues.
With his vast experience and strategic insight, Bayo Ojulari is expected to lead NNPC Ltd. into a new era of growth and innovation, steering the company toward greater operational efficiency and improved contributions to Nigeria’s economy
Very insightful