NEWS
Ojulari’s Future as NNPCL’s GCEO in Turbulent Political Waters
The political waters in Nigeria appear to be in high currents at state oil major, the Nigerian National Petroleum Company Limited (NNPCL), with the Group Chief Executive Officer (GCEO), Bayo Ojulari, facing allegations of reckless spending and funding the opposition.
The allegations, Biztellers gathered, have cast doubts on the tenure of Ojulari, who was said to be acting through a crony.
An online news platform had on Sunday reported that Ojulari was forced to resign in controversial circumstances, a claim that has been denied in some quarters.
President Bola Tinubu, had on April 2, 2025 appointed Ojulari, a former Managing Director of Shell Nigeria Exploration and Production (SNEPCO), Limited as the GCEO of NNPC Ltd following the sack of the erstwhile management led by Mele Kyari.
But, four months into the saddle of leadership at NNPCL, all appears not to be well as series of allegations have been levelled against the GCEO.
ALSO READ: Okpebholo Predicts One Party in Edo State Before 2027
It was alleged that Ojulari since assuming office, rather than cut cost has been living an extravagant lifestyle, thus putting a strain on the finances of the state oil major.
“Since assuming office just over three months ago, Ojulari has not boarded a single commercial flight. Instead, the state oil company boss has indulged in a jet-set lifestyle more befitting a billionaire playboy than the head of a struggling national energy corporation.
“Less than two weeks into his role, Ojulari reportedly jetted off to Paris aboard a private aircraft, accompanied from Paris, the jet roared off to London where Ojulari met the President — an early glimpse into the GCEO’s taste for flamboyance,” a source said.
The source claimed that while the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, flew British Airways to Vienna for a seminar organised by the Organisation of Petroleum Exporting Countries (OPEC), the NNPC Boss went to the same venue in far away Austria in a chartered private jet.
“Yet perhaps the most galling display came in July, when Ojulari flew to Vienna, Austria aboard another private jet to attend the International OPEC Seminar. While Nigeria’s Minister of State for Petroleum flew on British Airways, Ojulari’s journey reportedly cost NNPCL close to $1 million,”.
Earlier in May, while Nigeria’s oil output plummeted and NNPCL’s operational struggles mounted, Ojulari was said to have been spotted in Bologna, Italy on yet another private visit.
But the gallivanting lifestyle didn’t end there as sources confirmed a luxury detour to Monaco to attend the Formula 1 Grand Prix, sipping rare champagne while Nigeria’s refineries remained comatose.
Weeks later, the extravagance reached a crescendo. To mark his 60th birthday, Ojulari reportedly chartered two private jets to Dubai, turning the desert city into a lavish playground. One of the jets, according to insiders, ferried in “his ladies”, while a fountain of Dom Pérignon, single malt whiskies, and vintage cognac flowed throughout the weekend. “It was like a royal coronation,” said a source present at the party.
“Imported chefs, luxury hotels, Rolexes exchanged as party souvenirs, this man lives like oil wells are buried in his backyard.”
However, the last straw that broke the camel’s back is the reported link of Ojulari to Abdullahi Bashir-Haske, the founder and Group Managing Director of AA&R, who is married to the daughter of Atiku Abubakar, the former Vice-President.
Bashir-Haske, Atiku’s son-in-law, reportedly enjoyed regular NNPC patronage when Maikanti Baru was NNPC’s Chief Executive from 2016 to 2019. Baru died in 2020 during the COVID pandemic.
Kyari, who was the Group General Manager of the crude oil marketing division of the national oil company, succeeded Baru.
When he took over the reins, Kyari was reportedly unhappy with Bashir-Haske and subsequently cut him off from NNPC patronage.
Bashir-Haske, however, continued to do business with Ojulari, who was operating in the oil sector in various capacities, notably as MD of Shell Nigeria Exploration and Production Company (SNEPCo) and later as founder/chairman of BAT Advisory & Energy Company Nigeria Ltd.
BAT Advisory & Energy advised Renaissance Africa Energy Company Limited in its $2 billion takeover of Shell Petroleum Development Company of Nigeria Limited (SPDC).
Following his appointment as NNPC GCEO in April, Ojulari restored all the privileges Bashir-Haske had been denied by Kyari.
Some of the transactions between NNPC and Bashir-Haske were flagged by the Economic and Financial Crimes Commission (EFCC), TheCable reported.
The anti-graft body has questioned Bashir-Haske, accusing him of orchestrating “large-scale money laundering through sophisticated financial structures”.
There are now allegations that NNPC was, perhaps inadvertently, funding the opposition through him.
NEWS
Lagos: LASTMA Announces Traffic Restrictions Along Route to Toll Gate
The Lagos State Traffic Management Authority (LASTMA) on Saturday announced a temporary road closure near Apostolic Church, inward Toll Gate, to allow engineers to install a beam on a height-restriction structure.
The agency said the installation was aimed at preventing high-rise trailers from accessing the newly constructed pedestrian bridge.
ALSO READ: LASTMA Alerts Motorists to Traffic Delays on Ogunnusi Road
“Currently, one lane has been occupied to facilitate the ongoing construction work, while the remaining two lanes are available to motorists,” LASTMA stated.
The agency advised road users to approach the affected corridor with caution and follow the directions of its personnel deployed to the area.
“Road users are advised to approach the affected corridor with caution and follow the directions of our personnel who are on ground to ensure the smooth flow of vehicular movement,” the statement added.
LASTMA also urged motorists to remain patient while the installation work continued.
“Motorists are encouraged to exercise patience while the installation work is in progress,” the agency stated.
NEWS
‘Oseni Rufai Helped Me, Not NiDCOM’ — Ekene Chukwuma on Return to Nigeria
Nigerian national Ekene Chukwuma has said he returned to Nigeria with assistance linked to Oseni Rufai rather than the Nigerians in Diaspora Commission (NiDCOM), while renewing allegations against the commission’s chairperson, Abike Dabiri-Erewa, over his travel documents.
Chukwuma made the remarks in an interview in which he explained how he returned to Nigeria after spending months at a deportation camp in India.
RELATED NEWS: Rufai Oseni Row: NiDCOM Breaks Silence on Nigerians Detained in India, Addresses Ekene’s Case
“My name is Kenneth Chukwu, from Enugu State,” he said, introducing himself before explaining how he returned to the country.
“I came back here with the assist of Osini Roufai, a good friend of him,” he said.
Chukwuma denied that NiDCOM facilitated his return, alleging that the commission had published false information about his case.
“NiDCOM made a lots of false, uh, news acquisition against me, which is still in Abike Dabiri handle in Twitter,” he said.
He also accused Dabiri-Erewa of sharing his expired international passport and a travel certificate he claimed was issued six months after he entered the detention camp.
“He also, she also posted my international passport that expired. He also, she also posted my TC that issued after 6 months,” he said.
His comments renew questions surrounding the handling of his case and the circumstances under which he obtained the documents needed to return to Nigeria.
Chukwuma’s detention in India previously sparked a public disagreement between ARISE News presenter Oseni Rufai and Dabiri-Erewa over NiDCOM’s response to reports of his situation.
Oseni raised concerns about Chukwuma’s detention and the commission’s handling of the case, while Dabiri-Erewa defended NiDCOM’s position and explained the process for submitting information to the commission.
NiDCOM subsequently issued its account of Chukwuma’s detention, stating that he had been arrested in India over a visa overstay and addressing the circumstances surrounding his travel documents.
The differing accounts prompted public debate about the commission’s response to Nigerians facing immigration difficulties abroad.
NEWS
‘Who Owns NNPC?’ Rufai Grills Olabode Sowunmi Over Fuel Subsidy
Rufai Oseni has challenged political analyst Olabode Sowunmi over the Federal Government’s 30-day petrol discount, questioning whether the intervention amounts to a return of fuel subsidy despite claims that the discount is being borne by the Nigerian National Petroleum Company Limited (NNPC).
The exchange occurred during an edition of The Morning Show on Arise News, where Oseni questioned Sowunmi about the financial implications of the petrol discount and other measures introduced to cushion the impact of fuel prices.
Oseni argued that several elements of the government’s intervention could be regarded as forms of subsidy, insisting that NNPC’s ownership structure must be considered when determining who ultimately bears the cost.
SEE MORE: ‘Another Speech to Tell Us, It Is Well’ — Oseni Rufai Reacts to Tinubu’s Address
“No matter how you try to explain it away, a subsidy is a subsidy,” Oseni said.
He challenged the argument that the discount should not be classified as a government subsidy simply because NNPC was responsible for providing it.
“We’re talking like NNPC is not owned by [the government] and heavily equity-based by the Ministry of Finance Incorporated,” he said.
Oseni identified the 30-day discount, forward sales of crude oil to domestic refineries, a proposed price ceiling, the removal of road levies and the consideration of an excess-profit tax among the measures he believed could amount to different forms of subsidy.
He argued that forward sales of crude oil to domestic refineries, with increased volumes as production grows, could help shield petrol pump prices from fluctuations in the international market.
Oseni also questioned the proposed negotiation of a price ceiling of ₦1,350 on landing and ex-country costs, arguing that government intervention to moderate prices contradicted the principle of allowing market forces to determine them.
“You are not supposed to come in to do this. Let me go back to your words: forces of market supply and demand should do this, but you have now come in to do this. That’s another form of subsidies,” he said.
He further cited the removal of road levies and cooperation with state governments under new tax laws as part of the measures requiring scrutiny.
After listing the interventions, Oseni demanded that Sowunmi explain their financial implications and identify who would ultimately pay for the petrol discount.
“But tie this with the most important question, actually, that you skipped: How much will this cost NNPC, and who pays for it? Don’t evade that question. Tell us the cost item and how much, who will pay for it,” Oseni said.
Sowunmi Defends His Position
In his response, Sowunmi argued that a government subsidy should be determined by whether the government bears the difference between the total cost of a product and its selling price.
He explained that a subsidy occurs when the government assumes the financial burden created by the gap between the cost of a product and the price at which it is sold.
“In the case of the discount that has been announced, it is borne by NNPC. So that cannot be…” Sowunmi said before Oseni interrupted.
Oseni challenged the distinction, insisting that NNPC’s ownership made it necessary to establish whether the cost could ultimately be linked to the government.
“Wait, not—who owns NNPC? Please answer. No, no, a straight question, and you can go ahead. Who owns NNPC?” Oseni asked.
Sowunmi responded that he had been invited to contribute to the discussion and should be allowed to complete his explanation.
“You asked, you asked NNPC because you believe—you asked me a question because you believe I have something to say. You cannot—you cannot tell me how to talk, so just be…” he said.
Oseni subsequently repeated his question about NNPC’s ownership, prompting Sowunmi to urge him to exercise patience.
“Basically, you need to be a bit patient and just…” Sowunmi responded.
The available transcript ends during the exchange, with no further explanation of the financial arrangements or conclusion to the discussion provided.






https://shorturl.fm/i264M
I do not even understand how I ended up here, however I thought this submit was once good. I do not realize who you might be however certainly you are going to a famous blogger in case you are not already 😉 Cheers!
You have brought up a very good points, regards for the post.
Thank you for all of the work on this blog. Kate take interest in setting aside time for research and it is obvious why. Many of us know all concerning the compelling ways you offer very important solutions through this web site and therefore inspire contribution from other individuals about this theme while my princess is certainly understanding a great deal. Take pleasure in the rest of the year. You are always doing a dazzling job.
fantastic points altogether, you just gained a brand new reader. What would you recommend in regards to your post that you made a few days ago? Any positive?
Heya i’m for the primary time here. I came across this board and I find It really helpful & it helped me out much. I hope to offer something back and aid others like you helped me.
Valuable information. Fortunate me I discovered your web site unintentionally, and I am surprised why this coincidence did not took place earlier! I bookmarked it.
Great work! This is the type of information that should be shared around the net. Shame on the search engines for not positioning this post higher! Come on over and visit my website . Thanks =)
Its like you read my mind! You seem to know a lot about this, like you wrote the book in it or something. I think that you could do with a few pics to drive the message home a little bit, but other than that, this is magnificent blog. An excellent read. I’ll definitely be back.
Those are yours alright! . We at least need to get these people stealing images to start blogging! They probably just did a image search and grabbed them. They look good though!
Aw, this was a really nice post. In idea I would like to put in writing like this additionally – taking time and actual effort to make an excellent article… but what can I say… I procrastinate alot and not at all appear to get something done.
An interesting discussion is worth comment. I think that you should write more on this topic, it might not be a taboo subject but generally people are not enough to speak on such topics. To the next. Cheers
Throughout the grand scheme of things you secure an A+ just for effort and hard work. Exactly where you actually lost me personally ended up being in all the details. As people say, details make or break the argument.. And it couldn’t be much more accurate in this article. Having said that, let me inform you just what exactly did do the job. The writing is certainly rather convincing and that is probably the reason why I am taking an effort to opine. I do not really make it a regular habit of doing that. 2nd, even though I can easily see a leaps in logic you make, I am definitely not convinced of exactly how you appear to unite the details that make the actual conclusion. For right now I will subscribe to your issue but wish in the future you actually connect the dots better.
Can I simply say what a aid to search out someone who truly knows what theyre speaking about on the internet. You undoubtedly know how to convey a difficulty to light and make it important. More people have to learn this and understand this aspect of the story. I cant believe youre not more common because you positively have the gift.
I enjoy you because of all your valuable work on this website. Kim enjoys going through investigation and it’s easy to understand why. We hear all relating to the dynamic means you present helpful suggestions via the blog and as well invigorate response from people on this situation so our favorite child is really understanding a whole lot. Have fun with the rest of the new year. You are conducting a really good job.
Attractive section of content. I just stumbled upon your site and in accession capital to assert that I acquire actually enjoyed account your blog posts. Anyway I’ll be subscribing to your feeds and even I achievement you access consistently quickly.
Unquestionably believe that that you stated. Your favorite justification seemed to be at the net the simplest factor to be mindful of. I say to you, I definitely get irked at the same time as other people think about issues that they plainly do not know about. You controlled to hit the nail upon the highest and also defined out the whole thing with no need side-effects , other folks can take a signal. Will probably be back to get more. Thanks