The fate of the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, hangs in the balance amid swirling reports of his alleged resignation and silence from key government institutions.
Appointed in April 2025 by President Bola Tinubu, Ojulari is now at the center of a high-stakes controversy that has thrown Nigeria’s oil industry into confusion.
While the Presidency has remained tight-lipped on the matter, several online reports claim that Ojulari was pressured into resigning over undisclosed issues, with some alleging he was even abducted and threatened by operatives of federal security agencies. However, there has been no official confirmation or denial from the Presidency as of press time.
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Adding fuel to the fire, the Department of State Services (DSS) has strongly denied any involvement in the alleged threats or forced resignation. A source, speaking anonymously, warned against linking the agency to the saga, insisting that the new DSS leadership under Adeola Tosin Ajayi does not tolerate illegal operations or political interference.
Similarly, the Economic and Financial Crimes Commission (EFCC) has refused to comment, declining all efforts to clarify whether it played any role in the reported development. The agency’s silence has only heightened speculation and unrest within the oil sector, as concerned stakeholders await an official statement.
Attempts to get clarity from the Presidency also proved unsuccessful. As there is a complete silence from the presidency. Also, over 24 hours since the resignation reports emerged, the NNPCL has not issued any formal response, further deepening the mystery.
Sources close to the matter suggest that Ojulari’s troubles may be politically motivated. A source familiar with the power dynamics within the administration hinted that while President Tinubu may not personally oppose Ojulari, individuals in his inner circle reportedly view the CEO’s association with certain figures as a political liability ahead of the 2027 elections.
Ojulari is said to have a close relationship with Abdullahi Bashir-Haske, founder of AA&R and son-in-law to former Vice President Atiku Abubakar, one of Tinubu’s likely challengers in the next presidential race. According to the insider, some members of the President’s camp believe that awarding contracts to Haske’s firm through NNPCL could potentially empower Atiku, further complicating Ojulari’s standing.
“Ojulari is seen as politically connected to the North,” the source said. “He’s close to Bashir-Haske, and because of that, they see his presence as a potential threat. It’s more about 2027 calculations than any wrongdoing on his part.”
Despite repeated efforts by journalists to contact Ojulari for his side of the story, he has not responded to calls or messages. However, a senior NNPCL staff member who requested anonymity dismissed the reports of Ojulari’s resignation, though he acknowledged the turmoil it has caused within the organization.
“This is a sad situation. Ojulari was just settling into his role, and now everyone is distracted,” the source said. “It has disrupted operations significantly, and we can only hope for a resolution soon so work can continue in a stable environment.”
Access to the NNPC Towers, the headquarters of the NNPCL and the Federal Ministry of Petroleum Resources, has also become increasingly restricted, making it even harder for the media to verify the situation firsthand.
As speculation intensifies and key agencies maintain silence, the oil industry and the nation at large, awaits clarity on the future of one of Nigeria’s most powerful corporate figures. Whether this is a case of political chess or deeper institutional crisis, the truth behind Bayo Ojulari’s status may shape the direction of Nigeria’s petroleum sector in the months leading to 2027.
