The Nigerian National Petroleum Company Limited (NNPCL) is facing deepening internal divisions as a series of reforms introduced by its new leadership has ignited a fierce power struggle among top executives and stakeholders, compounded by allegations of corruption and mismanagement.
Four months after a significant leadership shake-up, the state-owned oil giant is grappling with sharp disagreements that threaten to derail its transformation efforts.
According to sources within the NNPCL, the reforms, spearheaded by Group Chief Executive Officer Bayo Ojulari, aim to enhance transparency, accountability, and operational efficiency.
However, these changes have met resistance from entrenched interests within the organisation. Insiders claim that some executives, accustomed to the opaque practices of the past, are pushing back against Ojulari’s initiatives, which include a sweeping audit of contracts and a real-time reporting dashboard for critical operations.
The leadership overhaul, announced by President Bola Ahmed Tinubu in April 2025, saw Ojulari, a former director at Shell Nigeria and vice president of Renaissance Africa Energy Company, appointed as GCEO.
His mandate was to address longstanding issues such as non-functional refineries, mounting debts, and allegations of systemic corruption.
However, the reforms have exposed fault lines, with some stakeholders accusing the new management of sidelining key players in favour of loyalists, while others allege that opposition to the changes stems from those protecting illicit financial interests.
Adding fuel to the fire, recent posts on X and media reports have hinted at intense pressure on Ojulari, with unconfirmed claims that he was coerced into signing a resignation letter amid allegations of money laundering and political funding controversies linked to opposition figures.
These reports remain unverified, but they have intensified scrutiny on the NNPCL’s leadership. Civil society groups, including the Coalition for Good Governance and Change Initiatives (CGGCI) and the Human Rights Writers Association (HURIWA), have warned President Tinubu of a coordinated campaign to undermine Ojulari’s reforms, urging him to remain vigilant against attempts to discredit the GCEO’s anti-corruption efforts.
The Senate has also weighed in, issuing a three-week ultimatum to NNPCL to address audit discrepancies amounting to N210 trillion from 2017 to 2023.
Ojulari apologised for ignoring initial summons, citing the need for time to ensure accuracy in reconciling accounts. This development has further heightened tensions, with stakeholders questioning the transparency of the company’s financial dealings.
Critics argue that the NNPCL’s challenges are rooted in systemic issues that predate the current leadership. The organisation’s four refineries in Port Harcourt, Warri, and Kaduna remain largely non-functional, forcing Nigeria to rely heavily on imported petroleum products despite being Africa’s largest oil producer.
Efforts to rehabilitate these refineries have faced setbacks, with Ojulari admitting to Bloomberg that unforeseen maintenance issues and outdated technologies have complicated repair efforts. A comprehensive review of the refinery rehabilitation strategy is underway, with privatisation remaining a potential option.
Meanwhile, the NNPCL has raised alarms about a smear campaign targeting its leadership, accusing a syndicate of internal and external actors of spreading misinformation to derail its transformation into a corruption-free, performance-driven entity.
The company insists that these efforts will not deter its reform agenda, which aligns with President Tinubu’s Renewed Hope Agenda.