Amid swirling rumours about his resignation, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has reaffirmed his leadership role on the global stage by delivering a powerful keynote at the 48th Nigeria Annual International Conference and Exhibition.
Addressing the event virtually, Ojulari urged African nations to take ownership of their energy transition by leveraging indigenous resources, fostering regional collaboration, and embracing innovative technologies. The conference was themed: “Building a Sustainable Energy Future: Leveraging Technology, Supply Chain, Human Resources, and Policy.”
“Africa’s energy future is not pre-determined,” Ojulari declared. “It will be shaped by our decisions, investments, and willingness to embrace innovation.”
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He warned against wholesale adoption of foreign transition models, arguing that Africa’s pathway must be “contextual, just, and negotiated,” especially with millions still lacking access to electricity across the continent.
Highlighting the continent’s energy challenges—including climate change, capital flight, and technology gaps—Ojulari called for deeper cross-border collaboration and pinpointed key technologies such as carbon capture, utilisation and storage (CCUS), hydrogen, AI-driven exploration, smart grids, and modular gas systems as “vital tools for net-zero while ensuring energy access for all.”
To meet growing energy demand, he stressed the need to attract large-scale investments by creating a more business-friendly environment.
“We must derisk our environment by strengthening governance, honouring contracts, and using blended finance,” he said.
Ojulari also advocated using hydrocarbon revenues to fund renewable energy initiatives and decarbonisation infrastructure.
“Hydrocarbons and technology must coexist to build a modern energy system,” he added.
Beyond infrastructure, he emphasized the need to invest in STEM education and youth empowerment to ensure future readiness.
“The transition is about people, not just fuel. Young people must be ready to lead and innovate. This is the moment to act with conviction and purpose.”
He concluded his address by reaffirming NNPCL’s commitment to building a sustainable and inclusive energy future for Africa, even as questions linger over his position at the helm of the national oil company.
