The Nigeria Extractive Industries Transparency Initiative (NEITI) has congratulated the newly appointed Group Chief Executive Officer (GCEO) of the Nigeria National Petroleum Company Limited (NNPCL), Bayo Ojulari.
In a congratulatory message, the Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji reminded Mr. Ojulari that he was coming to office at a critical time when the ongoing reforms in NNPC Ltd. require renewed vigour, commitment, strategic leadership, and a firm dedication to transparency, accountability and corporate governance.
“NEITI recognizes that as Nigeria’s foremost national energy company, NNPC Ltd plays a crucial role in shaping the future of the country’s oil and gas sector. As a member of the NEITI National Stakeholders’ Working Group (NSWG) and a key institution in Nigeria’s extractive industry, the NNPC Ltd has a responsibility to ensure that the reforms initiated under the Petroleum Industry Act (PIA) are strengthened, broadened, and sustained in the public interest,” Orji said.
“As a Supporting Company of the global Extractive Industries Transparency Initiative (EITI), the NNPC Ltd under to your leadership must demonstrate unwavering commitment to openness, systematic disclosure of critical industry data, responsible resource management, and corporate governance best practices,” Orji added.
He urges the new leadership at the NNPC Ltd to prioritize timely publication of its financial statements, full disclosure of production data, operational costs, and revenue remittances to help rebuild public trust and enhance Nigeria’s global reputation.
Transparency in the management of oil and gas revenues, the NEITI Executive Secretary pointed out, remains critical to national development and ongoing poverty reduction efforts by the government.
The EITI process, he maintained, provides a tested framework for ensuring that revenues from natural resources are prudently managed, fully accounted for, and efficiently deployed to address Nigeria’s development needs.
“We look forward to working closely with Mr. Ojulari and his team in deepening the NEITI-EITI process in Nigeria and ensuring that NNPC Ltd. continues to align with international best practices in corporate governance and financial transparency”, Dr. Orji assured.
Also, NEITI congratulated the newly reconstituted NNPC Ltd Board and charged its members to provide forward-looking strategic direction to fast-track the ongoing transformation of the company in line with the PIA.
Orji noted that the Board’s role in ensuring that NNPC Ltd remained accountable to its shareholders, —the Nigerian people —was crucial to the long-term sustainability of the company and the industry at large.
He thanked the outgoing Mele Kyari-led management team for its dedication and hardwork during their tenure.
“On behalf of the NEITI National Stakeholders’ Working Group, we extend our appreciation to the outgoing GCEO, Mr. Mele Kyari, for his mutual respect, patience, and collaboration with NEITI over the past six years.
“His tenure was marked by significant engagements with NEITI in advancing corporate transparency, public disclosures, and aligning NNPC Ltd with the global EITI framework. We commend his service to the nation and wish him success in his future endeavours,” Orji said.
He said NEITI remains committed to its mandate of ensuring transparency and accountability in Nigeria’s extractive sector and would continue to support all efforts aimed at making NNPC Ltd a globally competitive, accountable, and efficiently managed national oil company.
