Linus Aleke in Abuja
A Civil Society Organisation (CSO), Nigeria Citizens’ Watch for Good Governance (NCWGG) has dismissed calls for the resignation of the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Engr. Bashir Bayo Ojulari, over allegations of opaque security spending, describing the demand as unfounded.
Addressing a press conference in Abuja on Monday, the National Chairman of NCWGG, Collins Idowu Eshiofeh, said the criticisms of the NNPC Ltd boss ignored the company’s publicly available records and the operational realities of securing Nigeria’s oil and gas infrastructure.
According to him, the expenditure classified as energy security and pipeline protection in the company’s 2024 financial records should not be misconstrued as an undisclosed or unexplained expense.
“The call for Engr. Ojulari’s resignation is baseless. The security expenditure in question relates to measures aimed at protecting critical oil infrastructure, curbing crude oil theft and safeguarding national assets. It is neither a single contract nor an attempt to conceal public funds,” he said.
Eshiofeh argued that investments in pipeline protection and energy security had contributed to improved crude oil production, stronger operational performance and increased revenue generation.
He also maintained that NNPC Ltd had made significant progress in corporate transparency, pointing to the publication of audited financial statements and regular operational reports.
“Anyone who examines the company’s audited accounts and publicly released reports will see evidence of greater transparency and accountability. These documents are available for public scrutiny and reflect compliance with the applicable legal and regulatory framework,” he said.
The NCWGG chairman further rejected suggestions that the security expenditure amounted to a disguised fuel subsidy, insisting that asset protection costs were distinct from government subsidy payments.
He urged President Bola Tinubu to disregard the calls for Ojulari’s resignation and continue supporting ongoing reforms in the petroleum sector.
“We believe the focus should remain on strengthening reforms and allowing ongoing oversight processes to run their course. Public debate should be guided by facts and verifiable information rather than speculation,” Eshiofeh added.