The Nigerian National Petroleum Company Limited (NNPCL) is once again at the centre of controversy as its Group Chief Executive Officer, Bashir Bayo Ojulari, faces a barrage of allegations and resignation rumours, which watchdogs warn are part of a calculated smear campaign.
A pro-democracy coalition, the Coalition for Good Governance (CGG), in Abuja on Tuesday, September 9, urged President Bola Tinubu and Nigerians to dismiss what it described as cabal-driven propaganda aimed at derailing reforms.
“It is not about facts or performance. It is about vested interests seeking to reclaim the corridors of unchecked power and patronage within the oil and gas sector,” said CGG’s national coordinator, Comrade Olaniyi Olawale.
Ojulari, appointed by Tinubu in April 2025, is no stranger to reform battles. A former Shell managing director and executive vice-president at Renaissance, he spearheaded the $2.4 billion acquisition of Shell’s Nigerian assets. But his anti-corruption stance has made him a lightning rod for criticism.
Earlier this year, online reports accused Ojulari of paying $1.5 million in bribes to presidential aides — allegations he firmly rejected as “false, ludicrous and malicious.”
Soon after, Daily Trust and other media outlets reported speculation about his resignation, prompting the Situation Room on Positive Reforms to warn of a “deliberate destabilisation plot” to reverse Nigeria’s energy sector progress and plunge the country back into fuel crises.
Analyst Jonathan Eze also raised an alarm, urging the presidency to shield Ojulari from what he termed “vultures amid reforms,” praising the NNPCL boss for instituting transparency, strengthening investor confidence, and aligning with Tinubu’s Renewed Hope Agenda.
CGG warned that bowing to blackmail would risk eroding investor trust, slowing capital inflows, and damaging Nigeria’s credibility in global energy markets.
“Enemies of reform may roar loudly, but truth, performance, and service to the nation will ultimately prevail,” it said.
With reform progress hanging in the balance, observers say the presidency’s response will signal whether Nigeria is truly breaking free of entrenched interests or sliding back into the old order.