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Deputy spokesman of the House of Representatives, Philip Agbese, has said reforms introduced by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bashir Bayo Ojulari, are repositioning the national oil company to deliver greater economic benefits to ordinary Nigerians.
Agbese said the company’s management was moving away from what he described as years of opacity, elite interests and inefficient operations towards stronger commercial discipline, accountability and improved returns to the Federation Account.
The lawmaker made the remarks while addressing a select committee of the British Parliament at the House of Lords in Westminster on the Tinubu administration’s reforms.
“Ojulari has migrated NNPCL from an elites’ conspiracy of corruption to the saving grace of common citizens,” he said.
“What we are witnessing is not cosmetic reform. It is a deliberate effort to dismantle entrenched interests and rebuild the company as a national asset that serves the Nigerian people.”
Agbese cited reported improvements in crude oil production, cost reductions through contract reviews and more consistent financial remittances as evidence of the changes under Ojulari’s leadership.
He also highlighted increased output from NNPC Exploration and Production Limited, the restoration of monthly financial and operational reporting and progress on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline.
According to him, timely cash-call payments and improved transparency had helped rebuild confidence among joint-venture partners and international investors.
The lawmaker maintained that previous practices involving delayed financial obligations, opaque contracting and underperforming assets had weakened the company’s capacity to contribute meaningfully to national development.
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“When NNPCL operates as a true commercial entity, instead of a political patronage structure, every Nigerian stands to gain,” he said.
“Higher crude and gas production generates more foreign exchange and stronger Federation Account inflows that support the public services ordinary citizens rely on.”
Agbese also commended the company’s handling of loss-making refineries, contract reviews and publication of audited financial results, arguing that stronger commercial management was essential to sustaining reforms.
He said growing investment interest in Nigeria’s energy sector, including potential investments associated with gas supply agreements and deepwater projects, reflected opportunities to expand production and attract foreign capital.
The lawmaker urged international partners to deepen cooperation with NNPCL, stressing that improved transparency and commercial credibility would strengthen Nigeria’s energy security and investment prospects.
He maintained that the ultimate test of the reforms would be their contribution to government revenue, employment creation, energy production and improved living conditions for Nigerians.
“The true test of leadership is whether institutions serve the many or the few,” Agbese said.
“Under Bayo Ojulari, NNPCL is beginning to pass that test. The shift from elite conspiracy to citizen-centred value creation is underway and must be sustained.”
The production, investment and financial improvements cited were the lawmaker’s assessments and were not independently established in the submitted report.
