As Nigerians grapple with economic hardship, hunger, and the legacy of fuel subsidy removal, the leadership style and optics of Bayo Ojulari, the embattled Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), is undergoing intensifying scrutiny.
Ojulari was appointed Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) in early April 2025 by President Bola Tinubu, who cited his extensive background in hydrocarbon exploration and management, particularly from his years as a top executive at Shell Nigeria, as the rationale for the appointment.
However, less than four months into his tenure, Ojulari has found himself engulfed in a series of controversies. His decision to authorise a high-level delegation of NNPC executives and mid-tier officials to attend an oil and gas summit in Kigali earlier this month drew significant backlash. Sources familiar with the matter allege that the trip cost the national oil company huge dollars, although exact figures remain undisclosed.
Matters escalated further when an online publication claimed that Ojulari had been “abducted” by operatives of the Economic and Financial Crimes Commission (EFCC) and forced to sign a resignation letter under duress. The report alleged that the operation was orchestrated at the behest of EFCC Chairman, Ola Olukoyede and the Director-General of the Department of State Services (DSS), Adeola Ajayi.
In response, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, was quoted as describing the report as false and baseless in a text message sent to journalists. Curiously, however, the rebuttal was not shared on any of Onanuga’s official or social media platforms, further fueling speculation and raising questions about the true state of affairs.
Alleged millions of dollars spent on hiring private jets
But sources in the Presidency and NNPC, speaking on condition of anonymity, confirmed that Ojulari’s jet-set and extravagant lifestyle are attracting serious scrutiny at the highest levels of government. The sources worry that his extravagance stands in stark contrast to Nigeria’s ongoing economic crisis.
From a reportedly private flight to Paris with an entourage including Abdullahi Heske (Son-in-Law to Atiku Abubakar, a former Vice President of Nigeria), to luxury detours to Monaco and Dubai for a 60th birthday bash, the sources worry that the NNPC boss appeared to have traded public service for perfumed excess.
A source at NNPC said Ojulari “has turned his tenure into what many now describe as a global odyssey of opulence”, while characterising the national oil company helmsman’s lifestyle as “one of extravagance at odds with the company’s operational reality.”
One of the sources said, “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 by none other than his controversial business partner, Atiku Abubakar’s son-in-law, Abdullahi Heske. From Paris, the jet roared off to London, where Ojulari met President Tinubu, an early glimpse into the GCEO’s taste for flamboyance.”
“By May, as Nigeria’s oil output plummeted and NNPCL’s operational struggles mounted, Ojulari was spotted in Bologna, Italy, on yet another private visit. But the spectacle didn’t end there. Sources confirm a luxury detour to Monaco to attend the Formula 1 Grand Prix, sipping rare champagne while Nigeria’s refineries remained comatose.”
The NNPC boss was also said to have hosted a lavish 60th birthday in Dubai, ferrying friends and associates to the desert city in two private jets.
To mark his 60th birthday, Ojulari and Heske 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,” the source said.
Vienna trip to OPEC that allegedly cost $1m
Ojulari’s July trip to the International OPEC Seminar in Vienna has been described as the straw that broke the camel’s back, sparking outrage within and outside the oil sector. While other officials flew commercial flights, his use of a private jet, allegedly pushing the cost of the trip to OPEC to nearly $1 million, has been described as both excessive and tone-deaf.
“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,” said the source
Insiders said the trip had no tangible returns for the company, only an expensive reminder of how far removed its leader is from the nation’s struggles.
Ojulari yet to visit refineries
While Nigeria continues to underperform concerning its OPEC quota, its refineries remain largely offline. A separate insider at NNPC added that Ojulari had yet to visit any of the country’s refineries or the Niger Delta communities that underpin Nigeria’s oil wealth. This, she argued, was fueling perceptions of detachment on the part of the embattled NNPC boss.
“It’s more damning that Ojulari has neither set foot in any NNPC refinery, nor visited the Niger Delta, the very heart of Nigeria’s petroleum wealth,” said one senior NNPCL staffer.
While Nigerians go to bed hungry, their oil company chief soars above the clouds, living a life more extravagant than CEOs of Fortune 500 companies, the staffer, who pleaded anonymity, added.
The silence by EFCC, DSS
Despite swirling rumours of Ojulari’s resignation as the NNPC boss, neither the Presidency, the EFCC, nor the DSS has issued any official statement. The silence from all three institutions has only deepened speculation, fueling public anxiety over the status of the nation’s most powerful state-owned enterprise. As days pass without clarity, Nigerians are left to piece together facts from anonymous sources, unofficial denials, and conflicting reports.
Multiple reports had alleged that Ojulari was compelled to resign following a covert operation by security operatives who presented him with alleged evidence of financial misconduct and abuse of office.
According to sources, the EFCC and DSS were reportedly involved in presenting Ojulari with the option of a quiet resignation in exchange for avoiding public disgrace. However, a source at the Presidency insisted that while Ojulari was indeed invited to explain certain expenditures, no formal resignation had been tendered as of press time, and the President had yet to be fully briefed on the outcome of the investigation. The lack of a definitive public stance has left room for conspiracy theories and further distrust in public institutions.
While some presidency sources revealed that the embattled NNPC boss was making last-minute frantic efforts to get an audience with the First Lady, Senator Oluremi Tinubu, in an attempt to save his job, analysts condemned the apparent unwillingness of the authorities to untangle the controversies surrounding Ojulari’s status.
RNUPENG, PENGASSAN warning
PENGASSAN GEC Secretary, Amaoge Chukwudi; his NUPENG counterpart, Paulosa O. Paulosa; the PENGASSAN GEC Chairman, Solomon Orieji; and his NUPENG colleague, Baba Kaumi, have earlier warned Ojulari against the appointment of non-staff into management positions at the NNPC, describing the practice as an unjust action capable of undermining staff career growth.
Saying they might not guarantee industrial harmony if the trend was repeated, the oil workers’ unions in a letter referenced PEN/NUP.GEC.SEC. 04/25/04.2, and titled, ‘Filling of Top Management Positions in NNPC Limited With Externally Recruited Personnel is Unacceptable to PENGASSAN & NUPENG GEC,’ threatened, “We must, therefore, caution against any unjust action that undermines the career growth of deserving staff members of our company. If this warning is ignored, we cannot guarantee the continuation of industrial harmony within NNPC Limited.
“Therefore, this letter serves to put the management and the Board of NNPC Limited on notice that PENGASSAN and NUPENG categorically reject any recruitment or appointment of senior or management staff above the SS6 cadre (specifically within the SS5 to M2 cadre) from outside the organisation. Any attempt to do so will be met with strong resistance, including a total shutdown of operations.”
NNPC warns against smear campaign
Efforts to get an official reaction from the NNPC were fruitless as the company has no known spokesperson since Femi Soneye stepped aside.
The NNPC had, in a June 27 statement, denied any wrongdoing and warned the public of an alleged campaign of calumny against the Ojulari-led management.
The statement read, “The Nigerian National Petroleum Company Limited (NNPCL) has uncovered an emerging coordinated sabotage campaign being waged by a syndicate of known and faceless actors, both outside and within various levels of the state oil company.”
“We expect a surge of defamatory content in the days and weeks ahead. NNPC Limited remains undeterred. The transformation is underway, and no amount of sabotage will stop it.”