NNPCL's GCEO Praised for Audit Report and PMS Discount

The Parliamentary Support Network and allied civil society organizations praised Engr. Bashir Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), for advancements in the Petroleum Industry Act and a nationwide N66-per-litre discount on Premium Motor Spirit (PMS). During a press conference in Abuja, the groups highlighted the 2025 Audited Financial Statements, which showed a Profit After Tax of N7.2 trillion, a 33 percent increase from the previous year, and declared dividends of N5.8 trillion.

They noted that crude oil and condensate production reached a five-year high of 1.77 million barrels per day. The organizations emphasized that these financial improvements translate into more resources for essential national priorities such as infrastructure, education, healthcare, and security.

They acknowledged the challenging global oil market conditions and the company's management of legacy infrastructure issues under Ojulari's leadership, marking a significant shift in Nigeria's petroleum sector.