President Bola Tinubu has appointed Bashir Bayo Ojulari as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited.
The announcement, made on April 2 by presidential adviser Bayo Onanuga, follows a sweeping board overhaul that saw the removal of NNPC’s chairman, Chief Pius Akinyelure, and former GCEO Mele Kyari, along with other board members appointed in November 2023.
Ojulari, an industry veteran with over three decades of experience, is expected to assume office immediately. His appointment comes at a critical juncture for NNPC as the company navigates ongoing energy reforms, production challenges, and Nigeria’s broader economic strategy.
Bayo Ojulari , early life & careerÂ
Born and raised in Nigeria, Ojulari’s journey to the pinnacle of the country’s petroleum sector began at Ahmadu Bello University, where he earned a Bachelor of Engineering in Mechanical Engineering in 1989.
- His academic background laid the groundwork for a career defined by technical expertise and strategic leadership in oil exploration, production, and energy management.
- Soon after graduation, he began his career as a Fields and Process Engineer at Elf Petroleum Nigeria in 1989, gaining hands-on experience in production systems and operational efficiency.
- His technical acumen quickly earned him a place at Shell, one of the world’s largest oil companies, where he would spend the next 24 years honing his expertise and rising through the ranks.
Decades at Shell: From Engineer to Managing DirectorÂ
Ojulari’s tenure at Shell Nigeria Exploration and Production Company (SNEPCo) was marked by transformative leadership.
- From 2015 to 2021, he served as the company’s Managing Director, overseeing Shell’s deepwater assets, including the massive Bonga oil field, Nigeria’s first deepwater project.
- Under his leadership, Shell’s deepwater operations expanded, producing up to 320,000 barrels per day, while he spearheaded cost-saving measures that reduced operational expenses by 30% and boosted production efficiency by 20%.
Beyond operational success, he played a crucial role in renegotiating production-sharing contracts and securing agreements for multibillion-dollar projects.
His ability to navigate complex regulatory landscapes and commercial negotiations helped secure investment in Nigeria’s offshore oil sector, a critical component of the nation’s economy.
- Prior to his tenure as MD, Ojulari held key leadership roles within Shell, including Development Director at Shell Petroleum Development Company (SPDC) from 2010 to 2015, where he managed petroleum engineering operations for over 100 oil and gas fields and oversaw projects with a combined budget of $700 million.
More insightsÂ
Following his time at Shell, Ojulari transitioned to the private sector, where he continued to influence Nigeria’s energy landscape. In 2021, he founded BAT Advisory & Energy Company Nigeria Ltd, providing strategic consultancy to leading oil and gas firms.
He later took on the role of Executive Vice President and Chief Operating Officer at Renaissance Africa Energy Company in 2024, focusing on sustainable energy solutions and business growth.
His extensive experience in both corporate and advisory roles positions him uniquely to lead NNPC at a time of evolving global energy policies and increasing pressure to reform Nigeria’s petroleum industry.
As the new head of NNPC, Ojulari faces the daunting task of steering the company through Nigeria’s post-Petroleum Industry Act (PIA) reforms, tackling oil theft, improving production output, and maximizing energy revenues for national development.
