Energy Consultants Demand NNPCL CEO's Resignation

The Association of Energy Policy and Development Consultants (AEPDC) has called for the immediate resignation of Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL). The coalition criticized his leadership for fostering secrecy, weak accountability, and public distrust regarding the management of Nigeria's oil resources.

They highlighted concerns over NNPCL's 2024 financial records, which reportedly indicate total claims and under-recovery costs of approximately N17.5 trillion, with around N7.13 trillion categorized as energy security and pipeline protection expenses. The AEPDC emphasized that while securing oil and gas infrastructure is vital, expenditures in the trillions must come with comprehensive disclosures and measurable outcomes.

They also pointed out the lack of a public report from the National Assembly's joint investigative panel on energy security contracts, urging for transparency and accountability. The group warned that opaque financial practices could reintroduce subsidy-like obligations through indirect mechanisms, further eroding public trust.