The Nigerian Association of Energy Correspondents (NAEC) has extended its congratulations to Bayo Ojulari on his recent appointment as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL). In a statement released on April 2, 2025, NAEC expressed confidence in Ojulari's ability to lead NNPCL towards achieving its strategic objectives, citing his extensive experience in the oil and gas sector.​

NAEC also commended President Bola Ahmed Tinubu for reconstituting the NNPCL board, viewing it as a significant move towards enhancing operational efficiency and restoring investor confidence in Nigeria's oil and gas industry. The association expressed optimism that the newly appointed board members would work collaboratively to drive growth and innovation within the sector.​

Bayo Ojulari brings a wealth of experience to his new role, having previously served as the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. His appointment aligns with President Tinubu's vision to revitalize Nigeria's oil production and refining capacities. The new 11-member NNPCL board, chaired by Ahmadu Musa Kida, has been tasked with conducting a strategic portfolio review of NNPCL-operated and joint venture assets to ensure alignment with value maximization objectives. 

The reconstitution of the NNPCL leadership comes at a critical time as Nigeria aims to boost its oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030, alongside increasing gas output targets. The new leadership is also expected to address challenges in the refining sector to achieve higher refining outputs despite current maintenance issues.

This development has been met with positive reactions from industry stakeholders, who anticipate that the new leadership will implement reforms to enhance efficiency and transparency within NNPCL.