KEY POINTS
- NNPC’s GCEO Bashir Ojulari says company is facing “coordinated attacks” against reforms.
- Focus remains on refinery revival through new joint venture models and long-term fixes.
- Oil workers’ union PENGASSAN pledges full support, citing reduced theft and stronger output.
“The Nigerian National Petroleum Company Ltd., NNPC, is facing coordinated pushback from vested interests opposed to its sweeping transformation drive,” said Bashir Bayo Ojulari, head of Nigeria’s state oil company, but he vowed that the reforms would not be derailed.
Speaking Thursday in Abuja to leaders of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Ojulari stated that the business was enduring pressures intended to delay change.
“We are under attack. We will not budge to short-term pressure as it will not be in the best interest of Nigerians,” he said. “You cannot drive change without a price, and the transformation is tough.”
Refineries, Resilience and National Interest
According to Ojulari, his administration, which has only been in power for five months, has made it a top priority to revive Nigeria’s failing refineries using a new Incorporated Joint Venture model that will increase their profitability and sustainability. He emphasized that short-term fixes were not an option and instead pledged long-term stability for the industry.
“Mr. President doesn’t pressure me to do the wrong thing,” he said. “That is why we are going back to the baseline to ensure whatever we are doing, the refineries work sustainably going forward.”
The NNPC chief also underscored his commitment to carrying out President Bola Tinubu’s mandate, saying patience from Nigerians was essential to see the reforms through.
Festus Osifo, president of PENGASSAN, commended Ojulari’s leadership, pointing to improved pipeline security, increased output, and decreased crude oil theft as evidence that reforms are working.
“We have operational pipelines now. Additionally, there has been a notable decrease in crude oil theft, which has resulted in higher production, according to Osifo. “You have our unwavering support. To maintain stability for the good of all Nigerians, we will cooperate with you and your team.
In addition to courting international players like Brazil’s Petrobras in deepwater exploration, NNPC is pursuing a $60 billion investment plan with the goal of increasing crude production to 3 million barrels per day by 2030. This is when organized labor supports the company.
