By George Perema
Crude oil remains the backbone of Nigeria’s economy, and the performance of NNPC Limited’s upstream operations continues to play a decisive role in sustaining national revenue, foreign exchange earnings and energy security.
Eight months into his tenure as Group Chief Executive Officer, Bayo Ojulari has focused on consolidating production gains, strengthening operational reliability and addressing long-standing vulnerabilities such as crude oil theft, reinforcing the upstream sector as a foundation for both fiscal stability and broader diversification.
Under Ojulari’s leadership, NNPC Exploration and Production Limited (NEPL) recorded one of its strongest production performances in 2025, with output peaking at about 355,000 barrels per day. While some of these improvements were inherited, the results reflect tighter oversight, improved funding discipline and closer alignment across operational teams. Ojulari has consistently framed production growth not as a headline number, but as the reliable monetisation of national resources in support of economic development.
A central pillar of this stabilisation has been the recovery of crude evacuation infrastructure. For years, pipeline vandalism and theft undermined Nigeria’s upstream performance, shutting in production and eroding investor confidence. Under Ojulari, NNPC has restored near-total availability across key export pipelines, including the Trans Niger, Trans Forcados, Trans Escravos and Trans Ramos lines. These arteries are critical to linking oil fields to export terminals, and their reliability has a direct bearing on national revenue.
The turnaround has been driven by a coordinated approach combining enhanced collaboration with security agencies, engagement with host communities and improved monitoring and maintenance protocols that enable early threat detection. By stabilising pipeline operations, NNPC has not only reduced losses but also created a more predictable operating environment for producers and partners.
Crude oil theft, once a defining drag on the sector, has increasingly been treated under Ojulari’s leadership as both a national and commercial imperative. Loss reductions have translated into higher receipts at export terminals and greater confidence in production planning across upstream, midstream and downstream segments.
The fiscal implications are significant, strengthening government revenue flows and reinforcing NNPC’s credibility with international partners.
Ojulari’s management style in the upstream sector has balanced strategic oversight with operational continuity. Rather than disruptive restructuring, his focus has been on consolidating existing projects, optimising asset performance and addressing bottlenecks through clear accountability and performance reporting.
Monthly disclosures and tighter governance frameworks have improved transparency and enabled faster responses to emerging risks.
Equally important has been renewed emphasis on partnerships. Stronger engagement with joint venture and production sharing contract partners has ensured timely funding, operational alignment and contract compliance, helping to unlock investment and sustain output reliability. These relationships underpin Nigeria’s standing in the global oil market and remain critical to long-term upstream growth.
The broader impact of these gains is already evident. Stable production supports export earnings, strengthens domestic energy supply and improves investor confidence, while also providing the financial base for investments in gas, downstream infrastructure and social programmes. Despite ongoing security and market risks, Ojulari’s approach has combined ambition with pragmatism, prioritising operational integrity and fiscal discipline.
Eight months into his tenure, Ojulari has demonstrated that upstream excellence is as much about governance and consistency as technical capability. By securing pipelines, reducing theft and stabilising production, he is helping to ensure that Nigeria’s oil wealth remains protected, productive and aligned with the country’s long-term economic interests.
*The author is Port Harcourt based public analyst and commentator
