The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bayo Ojulari, has said Nigeria must change the narrative of underperforming oil output despite its abundant reserves.
Speaking at the 4th PENGASSAN Energy and Labour Summit (PEALS) in Abuja on Wednesday, Ojulari said the company is pursuing rigorous field development, tighter security in the Niger Delta, and partnerships aimed at unlocking stranded assets and boosting production.
“Despite abundant reserves, Nigeria’s production output has not matched our potential. We must change that narrative. Every barrel counts. Every molecule of gas counts,” he said.
Ojulari emphasised that resilience in the oil and gas sector was not optional but a national responsibility, built on operational excellence, fiscal discipline, regulatory compliance, and people-centred leadership. He highlighted health, safety, and environment (HSE) standards as the foundation for resilience, pledging NNPCL’s commitment to a “zero harm” culture, stronger incident reporting, and safeguarding host communities.
He added that environmental, social, and governance (ESG) principles were key to building trust and long-term value, noting NNPCL’s transition roadmap includes cutting carbon emissions, investing in gas as a transition fuel, and improving transparency.
On investments, Ojulari called for a stable and attractive climate backed by the Petroleum Industry Act (PIA), stressing the company’s new business model focuses on competitiveness, asset monetisation, and public-private partnerships.
Also speaking at the summit, the President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, warned that unsafe practices and environmental abuses in the oil and gas industry must end.
“The true measure of stewardship is ensuring every worker returns home safely. Unsafe conditions must never be the price of resilience,” Osifo said, condemning incidents where workers were exposed to hazardous conditions without proper gear.
He demanded accountability from operators, insisting gas flaring and polluted sites were unacceptable. “Protecting our rivers, lands, and air is non-negotiable. Gas flaring must end. Polluted sites must be restored. Accountability must be enforced—for today, and for generations to come,” he added.
The summit, attended by government officials, labour leaders, and industry stakeholders, centred on the theme “Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investment, and Incremental Production.”
