The Nigeria Extractive Industries Transparency Initiative (NEITI) has congratulated Mr. Bayo Ojulari on becoming the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL). His appointment comes at an important time for NNPCL, as the company is making significant changes under the Petroleum Industry Act (PIA).
In a statement from Abuja, NEITI’s Executive Secretary, Dr. Orji Ogbonnaya Orji, stressed the importance of Mr. Ojulari promoting transparency, accountability, and good governance at NNPCL. He pointed out that as Nigeria’s main energy company, NNPCL needs to embrace reforms that meet global standards.
Dr. Orji highlighted the necessity for clear disclosure of industry data, careful resource management, and following the Extractive Industries Transparency Initiative (EITI) framework. He urged the new leadership to prioritize the timely release of financial reports, complete information on production numbers, operating costs, and revenue payments. These actions, he argued, would help rebuild public trust and improve Nigeria’s reputation in the global oil and gas sector.
NEITI also welcomed the new board members of NNPCL, encouraging them to guide the company’s transformation effectively. The organization reminded the board that they have a responsibility to keep NNPCL accountable to the Nigerian people, who are its shareholders.
Dr. Orji recognized the contributions of the outgoing GCEO, Mr. Mele Kyari, praising his commitment to transparency and his partnership with NEITI over the past six years. He acknowledged Kyari’s efforts to align NNPCL with global EITI principles and thanked him for his service to the country.
NEITI reaffirmed its dedication to promoting accountability in Nigeria’s extractive industry and committed to supporting initiatives aimed at making NNPCL a competitive and well-managed national oil company.