The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, has promised that oil exploration in northern Nigeria will continue.
He said drilling activities at the Kolmani oil field in the North-East will soon resume.
Mr Ojulari made this known during an interview with the BBC, where he assured northern residents that the NNPCL remains committed to the project.
“We will continue the drilling in Kolmani and other sites. Beyond oil exploration, we are also committed to completing the gas pipeline project from Ajaokuta to Kano,” he said.
He explained that these efforts would bring back closed industries and create new jobs. “This development will bring economic benefits to the region, uplifting everyone through shared prosperity. That’s why we must return to the site and keep the work going,” he added.
The Kolmani oil field was first explored in the 1970s by Shell but was abandoned after poor results. NNPCL later restarted the project through Kolmani River wells 2, 3, and 4, which led to the discovery of over 1 billion barrels of crude oil and 500 billion cubic feet of gas.
The project was officially launched on November 22, 2022, by former President Muhammadu Buhari.
Reacting to questions about his origin, Ojulari clarified that he is indeed from the North.
“I was surprised when people said I was not from the North. I am a child of the North, and I come from Ilorin. I was brought up in Kaduna State. I started learning Yoruba when I was 15 years old,” he said.
“When I left Kaduna, I went to Zaria to study, so I am a northerner. I need the support of the North to do this work well and bring development to the North and the whole of Nigeria. I need everyone’s prayer as this work is not what one person can do. We need to work together to ensure Nigeria’s progress.”
On the ongoing disagreement between NNPCL and the Dangote Group, Ojulari confirmed that both parties have started peace talks.
“Dangote has made significant contributions, which deserve commendation,” he said. “We’ve held talks to resolve the conflict. Going forward, we’ll collaborate to ensure consistent fuel supply for Nigerians.”
He added that future issues would be resolved peacefully. “You won’t hear of any more clashes between NNPCL and Dangote Refinery. We’ll work together for Nigeria’s benefit.”
Ojulari also spoke about the fall in global oil prices, saying it could affect Nigeria’s income since the national budget relies heavily on oil revenue.
“This decline affects Nigeria’s budget since a major part of it relies on projected oil revenue,” he explained.
He said NNPCL is working to reduce its costs so that it can still make the most of oil and gas sales.
Addressing concerns about why fuel prices remain high locally despite falling global prices, he said it takes time for dealers to adjust.
“If they bought fuel at a higher price before the drop, they’ll need to sell at that old rate. But with new purchases at lower prices, we expect local prices to eventually reflect the change,” he said.
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