Global Edition
Global Edition
UK Edition
EU Edition
US Edition

Understand the story, not the spin.

Markets

NNPC Defends Leadership, Cites Production Growth Amid Criticism

Published 8 August 2026

The Nigerian National Petroleum Company Limited (NNPC Ltd) has defended its leadership and operational performance in response to calls from an industry group for the removal of its top executive. In a statement released on Saturday, August 8, 2026, the state-owned oil company addressed criticism from the Oil and Gas Professionals Forum (OGPF), which had questioned the performance of Group Chief Executive Officer Engr. Bayo Ojulari and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) chief.

The OGPF, in a statement on August 2, 2026, called for the removal of both Ojulari and NUPRC CEO Meyiwa Eyesan. The group alleged underperformance in the oil sector and raised concerns about the recently concluded oil licensing round, claiming that Ojulari had secured favorable oil blocks for allies and cronies through insider influence.

NNPC Ltd, in its response, firmly distanced itself from the licensing process. Chief Corporate Communications Officer Andy Odeh stated that under the Petroleum Industry Act (PIA) 2021, the conduct of oil licensing rounds and the allocation of oil blocks fall exclusively within the statutory mandate of the NUPRC. "NNPC Limited, since its...

Now playing
0:00 / 0:00