Four months after a major leadership overhaul at the Nigerian National Petroleum Company Limited (NNPCL), internal divisions are said to have worsened, with the reforms introduced by the new administration reportedly sparking sharp disagreements among top executives. Allegations of corruption and mismanagement have also emerged, further complicating the situation.
President Bola Tinubu, according to reports, has intervened in the controversy surrounding the potential halt in funding for road infrastructure projects under the NNPCL Tax Credit Scheme. This intervention was reportedly made through the Ministry of Works.
Official sources familiar with the internal dynamics of the company told The Guardian that recent controversies—such as the alleged chartering of private jets—were not isolated incidents but reflected long-standing corporate practices. They also claimed that top management, including the board and key political stakeholders, appeared to be entangled in a power struggle and conflicting interests.
Last Friday, a coalition of groups—OilWatch Nigeria, Workers’ Rights Alliance, and Concerned Citizens—staged a protest in Abuja, calling for the immediate arrest and prosecution of the Group Chief Executive Officer (GCEO), Bayo Ojulari, over an alleged $21 million scandal.
According to the protest organisers, a close associate of Ojulari reportedly told the Economic and Financial Crimes Commission (EFCC) that the funds in question, equivalent to ₦34.65 billion, did not belong to him but were allegedly linked to the GCEO.
The protesters argued that the sum involved was far from trivial, insisting it could significantly impact national infrastructure, healthcare, and education. They announced a three-day protest from August 1, 2025, targeting the National Assembly, NNPCL headquarters, and EFCC offices in Abuja.
These developments came amid reports by TheCable suggesting that President Tinubu was displeased with Ojulari’s performance. Although rumours about the GCEO’s possible resignation have been circulating, sources indicated that he remains in office, albeit with an uncertain future.
Further controversy surrounds Ojulari’s alleged links to AA\&R Investment Group, a company reportedly involved in the controversial fund transfer. The group’s managing director is said to be the son-in-law of former Vice President Atiku Abubakar, raising political concerns.
A senior official, speaking on condition of anonymity, disclosed that the use of private jets for official assignments had been a long-established practice at the NNPCL. The final board meeting under the previous leadership was reportedly held in Dubai, with plans for another overseas session before the transition.
According to insiders, the recent uproar was partly triggered by dissatisfaction with the new reforms, particularly among certain factions within the company and some regional interests.
They claimed that under Ojulari’s leadership, multiple private jets were allegedly hired for meetings in Kigali and Vienna, using a vendor linked to Atiku’s son-in-law. However, it was also said that the vendor had longstanding ties with the NNPCL and had been on contract since before Ojulari’s appointment, suggesting that the current leadership did not initiate the relationship.
