Connect with us

Business

Energy activists urge new NNPCL boss to shun “Dubious” predecessor’s policies

Energy Justice Forum urges new NNPCL GCEO Bayo Ojulari to reject former boss Mele Kyari’s “dubious” reforms and prioritise transparency.

Published

on

NNPCL reforms transparency

Energy Justice Forum urges new NNPCL GCEO Bayo Ojulari to reject former boss Mele Kyari’s “dubious” reforms and prioritise transparency

 

A coalition of energy rights activists, the Energy Justice Forum (EJF), has called on the newly appointed Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, to avoid what it terms “the dubious, dollar-chasing reforms” implemented by his predecessor, Mele Kyari.

Also read: NNPC Foundation trains 6,000 farmers nationwide, launches climate-smart agriculture programme in Enugu

Emphasising the Nigerian public’s right to transparency, the forum cautioned that a sustainable energy future for the country cannot be built on a foundation of secrecy and policies favouring an elite few.

In a statement released on Friday by the EJF’s national president, Dr. Godknows Manager, the coalition demanded a comprehensive audit of Mele Kyari’s tenure, encompassing all contracts, swaps, and financial transactions undertaken during his leadership.

The statement asserted, “It would be a fatal mistake for the new leadership at NNPCL to continue on the path orchestrated by Kyari, a path that nearly collapsed our economy, undermined local refining, and exposed the country to foreign exchange shocks.”

The EJF made it clear that they and the Nigerian populace would be closely monitoring the new leadership’s actions. “We are watching closely.

Nigerians are watching. And we will not hesitate to mobilise civil society resistance if old habits creep back in through the back door,” the statement warned.

“Nigerians deserve transparency, not tokenism; energy justice, not backdoor deals,” the forum insisted. “There must be a clear audit of Kyari’s tenure, all contracts, all swaps, and all the shady transactions disguised as ‘liberalisation’. We are demanding full disclosure and accountability.”

The EJF also commended the executive arm of government for reinstating the naira-for-crude policy, asserting its benefits for local refineries and the wider Nigerian population.

The forum highlighted that this policy shift is not solely advantageous for the Dangote Refinery but represents a long-overdue redirection in favour of local refining capacity and everyday Nigerians who have long suffered the consequences of an import-dependent energy system.

Dr. Manager described the decision as “the most patriotic intervention in Nigeria’s petroleum sector in recent history” and urged the new NNPCL leadership to align itself with the president’s reformist agenda.

“We must be clear, this policy is not about Dangote alone. It is about returning value to Nigerians, enabling refineries in Warri, Port Harcourt, and Kaduna to thrive, and ensuring that Nigerians are not perpetually held hostage to dollar-denominated fuel pricing,” Dr. Manager emphasised.

He further encouraged the new NNPCL board to strengthen collaborations with indigenous investors and local engineers to ensure the realisation of Nigeria’s refining ambitions.

“We cannot build a sustainable energy future on the back of secrecy and elitist policies. This is a new dawn. The new NNPCL must walk in light, not shadows,” Dr. Manager concluded.

13 / 100 SEO Score

Business

Double Honours for ‘Gas King’ Julius Rone

Published

on

By

Chief Executive Officer of UTM Offshore, Julius Rone, has kickstarted the year 2026 on a high note as he has won two significant awards, New Telegraph Personality of the Year 2025 and The Sun Newspaper’s Investor of the Year thereby cementing his status as a transformative force in Nigeria’s energy landscape.
Dubbed the “Gas King,” Rone’s recognition stems from his leadership of Nigeria’s inaugural Floating Liquefied Natural Gas (FLNG) project, a groundbreaking initiative set to reshape the nation’s position in global energy markets.
The energy tycoon possesses an unrivalled genius and profound understanding of investment is consistently making headlines and staying ahead of his peers while his remarkable qualities have set him far apart from ordinary business magnates across the continent.

His presence in the gas sector has been a dominating force, leaving an ineffaceable mark wherever he ventures and positioning himself at the pinnacle of Nigeria’s gas industry.

He has a rich and diverse entrepreneurial journey that has helped shape the business sector in Africa. His path to success includes a series of ventures that have significantly contributed to the region’s business growth.

The UTM Offshore FLNG facility is designed to deliver 1.5 million tonnes of LNG for export and 300,000 tonnes of LPG for domestic use annually. This venture, backed by President Bola Ahmed Tinubu’s administration as part of the Renewed Hope agenda, represents a significant advancement in Nigeria’s gas monetization strategy.
Rone’s professional journey spans influential roles at OMPADEC and the Niger Delta Development Commission (NDDC) before assuming leadership of the UTM Group of Companies in 2008. His approach combines operational excellence with environmental stewardship, engaging international partners including JGC Holdings, Technip Energies, and KBR while conducting rigorous environmental assessments.
The double awards have further solidified Rone’s status as an outstanding businessman that stands out among Africa’s elite. His exceptional intuition, unmatched business acumen, and ability to identify opportunities where others see failure have propelled him to the forefront.

48 / 100 SEO Score
Continue Reading

Business

Zichis Agro-Allied to List N1.09bn Shares on NGX

Published

on

Zichis Agro-Allied

Zichis Agro-Allied Industries plans to list N1.09bn shares on NGX growth board, promising transparency and strong investor returns

(more…)

64 / 100 SEO Score
Continue Reading

Business

NGX market cap rises N598bn

Published

on

NGX

NGX market cap rises by N598bn as consumer and tech stocks lead equities rally, reflecting renewed investor confidence despite slower trading

(more…)

66 / 100 SEO Score
Continue Reading

Trending News