Bayo Ojulari breaks silence after resignation rumours, urges stakeholders to rethink energy future

Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), has called for strategic and inclusive leadership to balance Nigeria’s energy needs with its environmental and economic priorities.

He made this call while delivering his keynote address virtually at the opening of the 2025 Nigeria Annual International Conference and Exhibition (NAICE), themed “Building A Sustainable Energy Future: Leveraging Technology, Supply Chain, Human Resources and Policy in Lagos.

It was his first public appearance since rumours of his resignation.

Speaking on Nigeria’s role in the global energy transition, Ojulari challenged the notion of oil and gas as a “sunset industry,” describing it instead as “a cornerstone for building a sustainable and inclusive energy future.”

“The future of energy is neither linear nor predetermined. It will be shaped by the decisions we make today—by how we intentionally engage, how we strategically invest, and how boldly we embrace innovation,” he said.

“The challenges before us—climate change, capital flight, technology gaps, and supply disruptions—are too complex to be addressed in silos,” he noted.

“We must foster robust, transparent, and constructive dialogue among all stakeholders—governments, financiers, civil society, and especially our youth.”

He also highlighted the importance of technological innovation in driving Nigeria’s energy transformation, citing carbon capture, hydrogen development, smart grids, and mobile gas distribution as examples of solutions that can help hydrocarbons coexist with clean energy.

Ojulari described Nigeria’s investment in Compressed Natural Gas (CNG) infrastructure as a game-changer in expanding access to cleaner energy.

“We must stop seeing these as buzzwords. These are real tools for building climate resilience without sacrificing industrial competitiveness,” he said.

Calling for a just and contextual energy transition, Ojulari urged African nations to de-risk their investment environments through better governance, regulatory clarity, and fiscal transparency.

“Governments and industries must co-create an investment environment that is credible, attractive, and future-focused. This is not just about profit but about building resilient and uplifted communities.”

He stressed the need to prioritise young Nigerians as future leaders of the energy sector, advocating for investment in STEM education, green skills, and entrepreneurship.

Ojulari closed with a call for cross-sectoral and cross-border collaboration to build a purposeful, enduring, and revolutionary oil and gas industry.