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Ojulari Drives Nigeria’s Crude Oil Output to 5-Year High
The leadership of Bayo Ojulari, as the Group Chief Executive Officer at the Nigerian National Petroleum Company Limited (NNPC Ltd) has resulted in a mega increase in crude oil production to 1.71 million barrels per day, the highest level recorded in five years.
This was detailed in its one-year performance report under Ojulari, made public at the official X handle of the GCEO on Sunday.
He described the report as a demonstration of accountability and measurable progress across the oil giant’s operations.
Providing a breakdown of achievements between April 2025 and April 2026, the company said its upstream subsidiary, NNPC Exploration and Production Limited, also recorded a milestone, reaching an all-time peak production of 365,000 barrels per day in December 2025.
It read, “Oil Production: Increased crude oil production to 1.71 million bpd (highest in five years). NEPL achieved an all-time peak production of 365,000 bpd in December 2025.
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PPLS 2000, 2001 PSC: Executed a model PSC for PPL 2000 & 2001 successfully. The first PSC to include comprehensive terms designed to facilitate the development of deepwater non-associated gas resources.”
The report further highlighted the execution of a new Production Sharing Contract model for oil blocks PPL 2000 and 2001, noting that the framework includes comprehensive terms to unlock deepwater non-associated gas resources, an area long considered underdeveloped in Nigeria’s energy mix.
It also disclosed that it supported the resolution of the long-standing dispute surrounding the former OPL 245 (Zabazaba/Etan) asset, which has now been converted into new Production Sharing Contracts covering PMLS 102 and 103, as well as PPLs 2011 and 2012.
In the gas segment, the company reported major infrastructure milestones, including the completion of the River Niger crossing of the Ajaokuta-Kaduna-Kano pipeline in July 2025, alongside the welding of the entire pipeline network.
It also confirmed the commissioning of the Assa North-Ohaji South processing plant and its connection to the Obiafu-Obrikom-Oben pipeline, a critical link in Nigeria’s domestic gas supply chain.
According to the report, gas supply rose to 7.5 billion standard cubic feet per day in 2025, supported by multiple commercial agreements. These include a Network Exit Agreement between NGIC and Dangote Fertiliser Limited, as well as supply deals involving NGML, Dangote Cement, and the Dangote Refinery.
The company added that it launched a Gas Master Plan in January 2026 and signed additional supply agreements, including one with CNG Ibese, while continuing optimisation work on the Soku gas pipeline infrastructure.
On refining, NNPC Ltd said it had introduced an Incorporated Joint Venture model aimed at repositioning its refineries to operate as commercially viable and self-financing entities.
It also confirmed the consolidation of its 7.25 percent equity stake in the Dangote Refinery, describing the move as critical to safeguarding national energy interests.
The company reiterated its continued crude oil supply to the refinery under the “crude-for-naira” initiative, a policy designed to reduce foreign exchange pressure and stabilise domestic fuel supply.
“Sustained support for Dangote Refinery through crude oil supply under the ‘crude-for-naira’ programme,” it added.
The NNPC Ltd said it strengthened its international footprint through strategic shipping partnerships with global firms, including Stena Bulk and Sonangol, while also launching a new crude grade, Cawthorne. It added that its Oleum lubricant brand had been expanded into the West African subregion.
In terms of project development, the company disclosed that it secured presidential approval for incentives aimed at unlocking the Final Investment Decision on the Bonga South West Aparo project under the OML 118 Production Sharing Contract.
Additionally, it signed a tripartite Memorandum of Understanding with China Gas Holding Limited and Peiyang Chemical Singapore PTE Ltd to accelerate gas commercialisation.
A major highlight of the report is the resumption of full monthly remittances to the Federation Account Allocation Committee since July 2025.
The NNPC Ltd added that it had also reintroduced monthly performance reporting and held its first-ever earnings call in November 2025, moves seen as part of efforts to improve transparency and investor confidence.
“Transparency: Reinstated monthly performance reporting. Held NNPC Limited’s first earnings call in November 2025. FAAC Remittances: Resumed full monthly payment into the Federation Account and continued consistent payment since July 2025.”
On human capital development, the company said it onboarded 1,000 new employees, dubbed “The Tigers,” and launched a new performance management system to drive efficiency and accountability. It also inaugurated the Women in NNPC programme to enhance gender inclusion and leadership opportunities.
The firm noted that it had embarked on a major internal restructuring under its “Fit4Future” initiative, aimed at transforming it into a globally competitive, profit-driven energy company.
Commenting on the report, Ojulari said the company’s performance reflects deliberate efforts to reposition NNPC Ltd as a transparent and results-driven organisation.
He stated, “Over the past year, we have delivered steady progress against our mandate, with measurable results across production, financial performance, infrastructure, and organisational culture.
“But this is more than a report on targets met. It is a statement of accountability to every Nigerian. At NNPC Limited, we are committed to leading with purpose, putting our best foot forward to build a more prosperous and sustainable energy future for our country.”
The NNPC Ltd transitioned into a fully commercial entity under the Petroleum Industry Act, with expectations to operate profitably while maintaining transparency and contributing to national revenue.
However, the company has faced scrutiny in recent years over oil theft, declining production, and delays in remittances to the Federation Account.
The latest report signals a strategic shift, particularly with the recovery in production levels, renewed focus on gas as a transition fuel, and reforms in refinery operations.
The sustained implementation of the “crude-for-naira” policy and deeper collaboration with private sector players such as the Dangote Group are also seen as critical to stabilising Nigeria’s downstream sector and reducing dependence on fuel imports.
Ojulari was appointed on April 2, 2025, following the dissolution of the NNPC board and the removal of his predecessor, Mele Kyari, in what the presidency described as a strategic overhaul aimed at repositioning the national oil company.
The decision was part of a broader effort to improve operational efficiency, boost crude oil production, and restore investor confidence in the sector.
Ojulari, a seasoned petroleum engineer, brought decades of industry experience into the role, having previously served as Managing Director of Shell Nigeria Exploration and Production Company and later as Chief Operating Officer at Renaissance Africa Energy.
As crude oil futures fell in response to the US President Donald Trump’s decision to suspend another planned military strike on Iran, he has insisted that oil companies should lower prices pronto.
Trump issued the directive on Monday, according to a post on his Truth Social platform, that oil producers reduce selling prices. “Get your consumer (retail) oil prices DOWN, NOW!” Trump wrote.
According to Oilprice.com, crude prices dropped to $83.62 on Monday. They had earlier jumped to $100 at the height of the renewed crisis between Iran and the United States.
On Monday, Trump called out Chevron Chief Executive Officer Mike Wirth after the executive appeared on television discussing the company’s business.
He accused Wirth of failing to acknowledge the administration’s role in restoring Chevron’s position in Venezuela.
“They threw Mike and Chevron out of Venezuela, but now they’re back, far bigger and stronger than ever before, expecting to make a fortune,” Trump pointed out.
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Oilprice.com reported that Chevron resumed operations in Venezuela after the Trump administration reopened access to the country’s oil sector and placed exports under US control.
American refiners have since become some of the largest buyers of Venezuelan crude, restoring a market that had largely disappeared under previous sanctions.
In the United States, the national average price of regular petrol reportedly stood at about $3.29 per gallon on Monday, according to AAA, down only modestly from last week’s highs despite crude prices falling by more than six per cent in a single session.
Retail petrol prices typically lag movements in oil markets because filling stations continue to sell inventories purchased at earlier wholesale prices.
Trump’s latest demand followed two earlier interventions on petrol prices. In June, he called on the Justice Department to investigate petrol prices after crude oil retreated from earlier highs.
Days later, he urged fuel retailers to lower pump prices towards $2.50 per gallon, warning companies that failed to respond would face “big problems”.
West Texas Intermediate crude fell by more than six per cent on Monday, while Brent crude lost more than five per cent after Trump announced a new round of negotiations with Iran and cancelled what he described as a planned “massive” military strike.
Retail petrol prices generally adjust more slowly because refiners, wholesalers and retailers continue selling fuel purchased when crude prices were higher.
Chevron, Exxon Mobil, Valero Energy and Marathon Petroleum all reported sharply higher second-quarter profits last week as the Iran conflict lifted crude prices and refining margins.
Trump’s latest demand comes as those higher earnings coincide with falling oil prices, with his administration pushing the industry to pass lower crude costs on to consumers.
In Nigeria, petrol prices range between N1,250 and N1,300 per litre, depending on the location. They stood at about N830 per litre before the US-Iran crisis began on February 28.
The Nigeria Police Force has summoned Assistant Inspector-General of Police (AIG) Moshood Jimoh for questioning and invited social media activist Martins Vincent Otse, popularly known as VeryDarkMan (VDM), over allegations made against the senior police officer.
The development was confirmed in a statement issued on Tuesday by the Force Public Relations Officer, CSP Ani Iniedu, who said the Assistant Inspector-General of Police in charge of the Force Criminal Investigation Department (FCID), Abuja, had formally invited AIG Jimoh as part of an internal investigation.
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According to the statement, the FCID also issued a letter of invitation to VeryDarkMan on July 30, 2026, requesting him to appear before the department and substantiate the claims he made publicly.
The Police said the actions underscore the Force’s commitment to accountability and transparency, stressing that every credible allegation of misconduct would be investigated regardless of the rank of the officer involved or the status of the complainant.
The statement followed recent public comments by VeryDarkMan concerning the AIG in charge of Zone 2, Lagos, and an ongoing criminal matter.
The Force, however, clarified that the criminal case referenced by the activist had already been investigated and filed before a court of competent jurisdiction based on legal advice from the Directorate of Public Prosecutions (DPP).
Describing the matter as sub judice, the Police maintained that the case would not be determined through media campaigns or public commentary.
“The Force will not try this case in the media, nor will it allow its outcome to be shaped by public campaigns or commentary seeking to prejudge the officers or parties involved,” the statement read.
The Police reaffirmed that its disciplinary procedures are guided by the Constitution, the Police Act 2020, Police Regulations, Force Orders and other established administrative processes, adding that the rules apply equally to all officers irrespective of rank.
While recognising citizens’ constitutional right to freedom of expression and to demand accountability from public institutions, the Force cautioned that such rights do not extend to defamation or the publication of unverified allegations.
It urged VeryDarkMan to honour the invitation by the Force CID and cooperate with investigators while allowing the courts to determine the separate criminal matter already before them.
The Police further assured Nigerians that any officer found culpable after investigation would face appropriate sanctions, while individuals found to have deliberately made false allegations aimed at damaging the reputation of an officer or the institution could also face legal action.
“The Nigeria Police Force remains an institution founded on law, discipline and accountability. No officer is above the law, and no genuine complaint is ignored; nor will any officer be sanctioned outside the procedures the law prescribes,” the statement added.
The Nigerian Association of Resident Doctors (NARD) has suspended its planned nationwide strike following a high-level meeting with the Federal Government at the Presidential Villa in Abuja.
The breakthrough came after a three-hour meeting convened by the Chief of Staff to the President, Femi Gbajabiamila, and attended by key government officials, including the Ministers of Labour and Employment, Health and Social Welfare, Finance, as well as senior officials from the Budget Office, the Office of the Accountant-General, and the Integrated Payroll and Personnel Information System (IPPIS).
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Speaking to journalists after the meeting, NARD President, Dr. Muhammad Suleiman, said the discussions resulted in firm commitments from the Federal Government to address the association’s longstanding grievances.
“Today, I can tell you, our matters are solved,” Suleiman declared.
He explained that both parties agreed on clear timelines for resolving outstanding salary, promotion and allowance issues that had prompted the association to threaten industrial action.
According to him, the government also committed to implementing agreed measures on meal allowances at the Lagos University Teaching Hospital (LUTH) within a week.
On the issue of delayed salaries for house officers, Suleiman disclosed that the Presidency had issued a standing directive to ensure prompt payment.
“In fact, he has given a standing order that before the 10th of every month, salaries of house officers must be paid,” he said.
The NARD president also revealed that the Federal Government had directed the Ministries of Labour and Health to fast-track negotiations on the Collective Bargaining Agreement so that any agreed terms can be reflected in the 2027 budget.
Beyond welfare concerns, the meeting also addressed the growing incidents of violence against healthcare workers. Suleiman disclosed that 31 doctors and more than 20 other health workers had been assaulted in the past 10 months.
To tackle the trend, he said the Ministry of Health would strengthen security in hospitals and launch public awareness campaigns against attacks on health personnel.
He further disclosed that the Chief of Staff had pledged to champion legislation that would classify assaults on health workers as an aggravated offence.
“The Chief of Staff has taken it upon himself to introduce legislation so that the National Assembly can come in with something that will make assault on health workers an aggravated offence. We are very glad with that. We think it will send the right signal that health workers should not be assaulted,” Suleiman said.
Addressing the long-running dispute over unpaid hazard and specialist allowances, Suleiman explained that although the Federal Government corrected payment shortfalls in February 2026, a 19-month backlog dating back to July 2024 remains unresolved.
Despite expressing confidence in the outcome of the meeting, Suleiman said the association’s National Executive Council (NEC) would take the final decision on formally calling off the planned strike.
“I have National Executive Council members. I will have a conversation. I have to report all of this back. We sit down. We take a decision.
“The point is, the person that called us for this conversation has never failed resident doctors. That is what I am emphasising.”
NARD had earlier threatened to embark on an indefinite nationwide strike from August 10 if the Federal Government failed to address outstanding salary arrears, welfare concerns and other unresolved issues affecting its members.
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