The Nigeria Extractive Industries Transparency Initiative (NEITI) has expressed confidence in the new leadership of the Nigerian National Petroleum Company (NNPC) Ltd.
NEITI stated that the company, under its new Group Chief Executive Officer (GCEO), Bayo Ojulari, is well-positioned to drive critical reforms.
During a courtesy visit to the NNPC Towers yesterday, NEITI’s Executive Secretary, Ogbonnaya Orji, praised the new management’s vision, noting that it comes at a crucial time for Nigeria’s extractive sector.
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He urged the NNPC to become a model of transparency and corporate governance to restore public trust and protect the company as a key national asset.
In response, Ojulari affirmed NNPC’s commitment to greater openness and accountability.
He stated that the company will continue to collaborate with NEITI and has already resumed the publication of monthly financial and operational reports.
Ojulari also expressed the company’s full commitment to complying with NEITI principles and global Extractive Industries Transparency Initiative (EITI) standards.
“We will look to your guidance as we deepen this,” he said.
Ojulari added that the NNPC is prepared to provide comprehensive data for NEITI’s 2024 and 2025 oil and gas audits, leveraging technology to ensure timely and efficient reporting.
He reiterated President Bola Tinubu’s mandate for the NNPC to increase oil and gas production and expand refining capacity.
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To achieve these goals, Ojulari stressed the need to attract at least $60 billion in new investments, which he said requires continuous transformation and strong partnerships with operators and accountability institutions like NEITI.
