The Nigeria Extractive Industries Transparency Initiative (NEITI) has expressed confidence in the management of the Nigerian National Petroleum Company Limited (NNPC Ltd.) under its Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, to deliver on ongoing reforms and set new benchmarks for corporate governance in Africa’s extractive sector.
The Executive Secretary/CEO of NEITI, Dr. Orji Ogbonnaya Orji, gave the assurance during a courtesy call on the NNPC management at the NNPC Towers in Abuja on Thursday.
He praised the vision of the new leadership, describing Ojulari’s appointment as coming at “a defining moment for Nigeria’s extractive sector, whereby reforms, renewed investor confidence, and expanded indigenous participation are reshaping the nation’s oil and gas landscape.”
Dr. Orji urged the NNPC Ltd. to position itself as a model of transparency, accountability, efficiency, and civic engagement, saying such values were critical to restoring public trust and safeguarding the company as “Nigeria’s greatest national asset.”
In his response, Engr. Bashir Bayo Ojulari pledged to sustain collaboration with NEITI to strengthen openness and corporate governance in line with global standards.
“In terms of full compliance to NEITI principles and global EITI standards, you have my full commitment. We will look to your guidance as we deepen this. We are already doing a lot of internal transformation to deepen transparency in our operational reporting and performance reviews,” Ojulari said.
The GCEO noted that NNPC Ltd. has since reinstated the publication of monthly financial and operational reports, alongside strengthening its internal reporting structures to ensure greater accountability.
He further stated that the company would lean on NEITI’s global experience in providing feedback on performance reviews and assured that NNPC Ltd. is “fully prepared to provide comprehensive data for the 2024 and 2025 audits, and would leverage technology to ensure efficiency and timeliness.”
Reiterating President Bola Tinubu’s directive to the new NNPC management, Ojulari said the company’s priority remains ramping up oil and gas production while expanding Nigeria’s refining capacity.
He emphasised that achieving this would require attracting at least $60 billion in fresh investments, a goal he stressed could only be realised through sustained reforms, investor confidence, and stronger partnerships with operators, government agencies, and accountability institutions such as NEITI.
Boluwatife Enome
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