Sopuruchi Onwuka

Nigeran National Petroleum Company (NNPC) Limited has declared that it is currently placing internal reform at the center of its transformation drive, with secondary objectives focused on plugging capacity gaps with private partnerships while exploring low-cost funding.

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Oracle Intelligence reports that the current management and board leadership are avowed on focusing on building a strong, efficient corporate culture capable of delivering profitable operations across all business units.

The Group Chief Executive Officer of NNPC Limited, Bayo Ojulari, told global industry captains and investors thet the company’s immediate priority is to align its structure, workforce and governance systems to a common corporate culture that ensures that each of its strategic business units operates as a viable, performance-driven commercial entity.

Ojulari who spoke at the 2026 CERAWeek hosted by S&P Global in Houston, United States, declared that the ongoing transformation of the national oil company goes beyond financial targets, adding that focus is in instead beamed on corporate discipline, accountability and operational efficiency across the organization.

Oracle Intelligence reports that Ojulari had earlier in the year at the Nigerian International Energy Summit (NIES) in Abuja stated that the new management and board of the company are working to build and drill down efficient business culture that displaces deep-rooted public-sector lethargy in the system.

He stated that whereas the workforce of the organization remains efficient and relevant in the new scheme of things, he noted that reform has become urgent in order to instill a new operating culture that is accountable.

At CERAWEEK in the US, Ojulari stated that the reform agenda includes breaking down internal silos, strengthening coordination between upstream, midstream and downstream operations, and embedding a culture that rewards performance and cost efficiency.

He explained that the goal is to create a company where all divisions consistently deliver value and meet commercial benchmarks expected by global investors.

As part of this shift, he stated, NNPC is also taking a pragmatic approach to areas where it lacks sufficient in-house expertise.

Ojulari said the company plans to bring in private venture partners, particularly in technically complex segments such as crude oil refining and gas processing.

The partnerships, he said, are expected to provide not just capital, but also operational know-how, helping to de-risk projects and accelerate execution while ensuring global standards in project delivery.

Industry observers say the new move by the board and management reflects a broader strategy to position NNPC as a collaborative operator rather than a fully self-contained entity, especially in high-capital, high-technology areas where international experience is critical.

Once operational performance stabilizes and key projects are on a stronger commercial footing, Oracle Intelligence gathered, the company intends to move to the next phase of its transformation, raising equity from both domestic and international markets.

Ojulari said NNPC is considering listings on major financial exchanges as part of a long-term plan to access lower-cost capital.

Internal sources in the company confirmed that tapping equity markets instead of relying heavily on debt would help strengthen the company’s balance sheet while funding expansion in oil, gas and infrastructure.

Oracle Intelligence reports that the phased approach, starting with internal reform, followed by strategic partnerships and ultimately equity funding, is designed to improve investor confidence and ensure the company is fully prepared before entering public markets.

Ojulari stated that building a disciplined corporate culture and delivering consistent commercial results would be critical in positioning the company as an attractive investment, both locally and globally.