Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Bayo Ojulari, has declared that the national oil company has entered a new era of transparency, accountability and commercial competitiveness, revealing that $24 billion in investments have already been secured.
Ojulari disclosed that the company has reopened its books to scrutiny and resumed the publication of monthly performance reports, describing the reports as “unprompted and unfiltered” in a bid to strengthen public confidence and investor trust.
According to the NNPC boss, full remittances to the Federation Account have been consistently restored since July 2025, while the company has now completed its transition into a fully commercial enterprise operating on business principles.
He stressed that the reforms are aimed at making the oil giant more efficient, profitable and globally competitive.
“To Nigerians, this company belongs to you. To the world, the new NNPC Limited is ready. We are not asking for trust; we are earning it daily,” Ojulari stated.
The latest update forms part of the company’s broader transformation agenda under his leadership since assuming office in April 2025.
Recent performance reports show improvements in crude oil production, increased transparency through regular reporting, and efforts to attract fresh investments into Nigeria’s oil and gas sector.
Industry analysts say the restoration of Federation Account remittances and the confirmation of $24 billion in investments represent major milestones in the effort to reposition NNPC Limited as a commercially driven energy company capable of creating long-term value for Nigerians.
Ojulari maintained that the company remains committed to accountability and sustainable growth, assuring stakeholders that the reformed NNPC Limited is prepared to compete effectively on the global stage.
