The Arewa Economic Forum (AEF) has called on President Bola Ahmed Tinubu to urgently clarify the status of Mr. Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), following reports of his alleged forced resignation.
The group expressed concern over the lack of official communication from the Presidency or NNPCL management, which has fuelled widespread speculation and confusion within the oil and gas sector. AEF said such ambiguity is unhealthy for national economic stability and investor confidence.
According to reports, Ojulari was allegedly coerced into signing a resignation letter at a discreet location in Abuja, in the presence of senior officials from the Economic and Financial Crimes Commission (EFCC) and the Department of State Services (DSS). Both agencies have, however, denied involvement in the alleged incident.
Despite these reports, Ojulari reportedly resumed duty at the NNPCL headquarters on August 4, 2025, a development that contradicted the earlier claims of his resignation. However, the silence from official channels has only deepened concerns.
AEF Chairman, Ibrahim Shehu Dandakata, in a statement on Sunday, said:
“We are compelled to seek clarification from President Tinubu on the leadership situation at NNPCL. It is vital for the administration to show transparency in such a critical matter affecting a key national institution.”
Dandakata emphasized that policy continuity, transparency, and corporate stability are essential to the successful execution of ongoing reforms in the petroleum sector.
He added that the controversy surrounding Ojulari’s status, if not addressed promptly, could undermine investor trust and derail the progress made in reforming the national oil company.
“The NNPCL is central to Nigeria’s economic stability. Any uncertainty in its leadership must be resolved with clarity and openness,” Dandakata added.
The Arewa Economic Forum also stressed that beyond political and administrative considerations, the leadership of NNPCL must be shielded from distractions that could affect productivity, especially as the company operates as a commercially driven entity under the Petroleum Industry Act.
The group urged the Federal Government to take proactive steps in communicating the truth to the public, insisting that the silence only fuels misinformation and public distrust.
