In the heart of Nigeria’s energy sector, a new chapter unfolds as Bayo Ojulari, a seasoned engineer with a career spanning decades, steps into the role of Chief Executive Officer of the Nigerian National Petroleum Company (NNPC).
Ojulari succeeds Mele Kyari, who had served as CEO since July 2019, making him the longest-serving head of the corporation in Nigeria’s democratic era.
With over 34 years of experience in the global oil and gas industry, Ojulari is a distinguished business leader whose expertise spans petroleum asset acquisition and divestments, exploration, field development, production management, strategic planning, investment evaluation, and commercial negotiations.
His appointment is crucial as NNPC aims to boost oil production beyond two million barrels daily while maximizing economic value for Nigeria.
Career
Ojulari earned a Bachelor of Engineering degree in Mechanical Engineering from Ahmadu Bello University before beginning his career as a Fields & Process Engineer at Elf Petroleum Nigeria.
He later joined Shell, where he spent over 24 years in leadership roles across Nigeria, Europe, and the Middle East.
Shell’s Era
One of the defining moments of Ojulari’s career was his tenure as Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo) from 2015 to 2021.
Under his leadership, SNEPCo managed deep-water assets producing 320,000 barrels per day, with an annual operating cost of $1 billion. His tenure saw a 20% increase in production, a 30% reduction in operational costs, and a 40% decrease in capital project costs.
His leadership also earned the Bonga Asset the prestigious “Asset of the Year” award in 2016.
Ojulari played a key role in securing new production-sharing contracts and resolving disputes related to Oil Mining Lease (OML) 118, underpinning growth projects worth $6–8 billion.
Challenges and Leadership at NNPC
Ojulari assumes leadership at a critical time, with NNPC grappling with issues such as pipeline vandalism, oil theft, and the need to diversify Nigeria’s energy sector. However, his extensive experience and track record of success in complex environments make him well-equipped to lead the corporation through these challenges.
A Global Leader in Energy
Ojulari’s career has taken him across multiple continents, providing him with a unique global perspective on the energy industry.
From his early role as an Associate Production Technologist in Nigeria to his tenure as Sub-Saharan Africa Regional Planner at Shell’s headquarters in the Netherlands and Asset Leader in Oman, he has consistently demonstrated his ability to lead diverse teams and drive impactful results.
In his most recent role as Board Chairman of BAT Advisory & Energy Company, Ojulari provided executive business and technical advisory services, including leading a major acquisition valued at over $2 billion.
His work with firms such as ND Western Limited, Trewan Energy Limited, and Renaissance Africa Energy Company further solidifies his reputation as a strategic thinker and problem solver.
Ojulari’s appointment marks a new phase for NNPC, with high expectations for his leadership in shaping the future of Nigeria’s oil and gas industry.