ABUJA – In a decisive effort to arrest long-standing inefficiencies in Nigeria’s refining operations, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has removed the managing directors of the company’s three major refineries located in Port Harcourt, Kaduna, and Warri.
According to Peoples Gazette, the leadership shake-up, which takes immediate effect, is part of a broader restructuring initiative aimed at halting what officials described as “continued value erosion in Nigeria’s refining sector.”
“The primary objective of the restructuring is to halt the ongoing loss of value in the short term and to develop a credible, long-term strategy that will restore and maximise value for the federation,” an official familiar with the matter said.
The move follows Ojulari’s earlier dismissal of several top executives just two days prior, in what insiders say is a sweeping campaign to address the state-run oil company’s entrenched culture of waste, inefficiency, and mismanagement.
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In a related development, the NNPCL chief has inaugurated a high-level assessment team led by the company’s Vice-President of Downstream Operations, Mumuni Dagazzau.
The team has been tasked with conducting a rapid operational review of all NNPC refineries to determine their current status and recommend immediate and long-term measures for improvement.
“The team will provide critical insights to guide reforms and reposition the refineries for greater efficiency and output,” another official said.
The NNPCL has yet to issue an official statement, and requests for comment from its spokesperson on Thursday afternoon went unanswered. The affected refinery executives were also not available for comment as of the time of filing this report.
This latest development underscores Ojulari’s commitment to overhauling the nation’s ailing refining sector and restoring public confidence in the NNPCL’s ability to deliver value.