Business
Coalition raises alarm over alleged ₦5.7bn NNPCL contract scam, urges immediate sack of Ojulari
President Bola Tinubu has been asked to terminate the appointment of the Group Chief Executive Officer (GCEO) of National Petroleum Company Limited (NNPCL), Bayo Ojulari over alleged award of a ₦5.7 billion consultancy contract without due process, transparency, or justification.
The development was made known in an open letter to Nigerians signed by Musa Abdullahi for the Coalition of Nigerian Patriots for Good Governance, supported by Civil Society Organisations, Concerned Workers, and Transparency Advocates on 26 June, 2025.
The Coalition faulted the new leadership of Mr. Bayo Ojulari, for engaging in what it called reckless, unconscionable spending of public resources without due process, while urging President Tinubu to immediately sack the NNPCL Chief and for the Economic and Financial Crimes Commission (EFCC) to swiftly launch investigation into the ₦5.7 billion consultancy contract scandal.
The letter also warned that the aim of the current leadership of the NNPCL is to kill the Corporation as several top principled staff have started resigning their position with many other professionals planning to tow the same path.
The Coalition also revealed plans to hold a 2-day advocacy march on the July 1 and 2, 2025, to press home their demands and urged Nigerians to join them.
Here are some of the demands: “That President Bola Ahmed Tinubu should immediately sack Mr. Bayo Ojulari as Group CEO of NNPCL.
ⁿWe want to state that Ojulari’s plan is to kill NNPCL because we want to authoritatively state that so many Top Principled NNPCL staffs like Chief Operating Officer, Spokesman and others have started resigning . So many professionals plan to leave the NNPCL for Ojulari.
“The EFCC launches a full-scale investigation into the ₦5.7 billion consultancy contract awarded to HASKE, including company ownership, bank trails, and project deliverables.
“All estacodes and travel expenses paid for the Kigali retreat be refunded to the national treasury within 14 days.
“The National Assembly sets up a public hearing to investigate NNPCL’s opaque contract practices and rising culture of financial recklessness.
“Corporate governance frameworks at NNPCL be reviewed, and violators prosecuted under anti-corruption laws.”
The letter reads in full:
OPEN LETTER TO NIGERIANS: THE ₦5.7 BILLION CONSULTANCY FRAUD, LAVISH NNPCL RETREATS AND THE URGENT NEED FOR PRESIDENT TINUBU TO SACK BAYO OJULARI
Dear Fellow Nigerians,
We write to you today with a sense of urgency and righteous indignation over an unfolding scandal that strikes at the very heart of accountability and good governance in Nigeria.
At a time when over 200 million Nigerians live in multidimensional poverty, when inflation has soared, and when the government pleads for patience as painful reforms unfold, the Nigerian National Petroleum Company Limited (NNPCL), under the new leadership of Mr. Bayo Ojulari, has engaged in reckless, unconscionable spending of public resources.
THE ₦5.7 BILLION CONSULTANCY SCANDAL: A LOOT IN BROAD DAYLIGHT
Recent investigations have revealed that NNPCL secretly awarded a ₦5.7 billion consultancy contract to a little-known and controversial firm called HASKE, without due process, transparency, or justification. HASKE has long been associated with opaque deals, political patronage, and backchannel contracts. The company has no verifiable record of delivering high-level consultancy services, nor does it possess the industry reputation or technical competence required for such a contract.
So, why was this firm handpicked?
Sources confirm the deal was not advertised, not subjected to competitive bidding, and was not scrutinized by relevant oversight bodies. This is not just a violation of public procurement laws—it is a calculated looting of Nigeria’s oil wealth.
₦5.7 billion—nearly $4 million at today’s rates—was signed away behind closed doors while hospitals go without equipment, schools lack basic infrastructure, and millions cannot afford a single meal a day.
What could ₦5.7 billion do instead?
Build or equip 570 Primary Health Care Centres across rural Nigeria.
Fund scholarships for over 50,000 indigent Nigerian students.
Construct 114 kilometres of rural roads to support agriculture and commerce.
Provide capital to over 10,000 young entrepreneurs to reduce unemployment.
Yet this same sum was funneled into a phantom consultancy deal, benefiting no one but the insiders and cronies.
A CEO GONE ROGUE: LAVISH RETREATS & ABUSE OF POWER
As if this was not enough, Mr. Bayo Ojulari—Group CEO of NNPCL—flew to Kigali, Rwanda in a chartered fleet of five private jets, accompanied by other executives, for a so-called management retreat. Lavish estacodes were paid, luxury hotels were booked, and top officials returned with fat pockets and zero accountability.
Ojulari reportedly pocketed millions in estacodes alone for this trip, all while ordinary Nigerians are being told to “tighten their belts.” Even more disturbing is that staff within NNPCL describe him as high-handed, arrogant, and feared, openly boasting of his closeness to President Bola Ahmed Tinubu, using that proximity as a shield against scrutiny.
THIS IS A NATIONAL DISGRACE—AND AN INSULT TO THE NIGERIAN PEOPLE
How did we arrive at a point where public institutions serve personal greed rather than public good? Why is the Group CEO of our national oil company flying in private jets while Nigerians queue endlessly for fuel, grapple with blackouts, and drown under high food prices?
The answers are simple: impunity, entitlement, and lack of political will to punish the powerful.
We, the Nigerian people, say enough is enough.
OUR DEMANDS
We demand that:
- President Bola Ahmed Tinubu immediately sacks Mr. Bayo Ojulari as Group CEO of NNPCL.
- We want to state that Ojulari’s plan is to kill NNPCL because we want to authoritatively state that so many Top Principled NNPCL staffs like Chief Operating Officer, Spokesman and others have started resigning . So many professionals plan to leave the NNPCL for Ojulari.
- The EFCC launches a full-scale investigation into the ₦5.7 billion consultancy contract awarded to HASKE, including company ownership, bank trails, and project deliverables.
- All estacodes and travel expenses paid for the Kigali retreat be refunded to the national treasury within 14 days.
- The National Assembly sets up a public hearing to investigate NNPCL’s opaque contract practices and rising culture of financial recklessness.
- Corporate governance frameworks at NNPCL be reviewed, and violators prosecuted under anti-corruption laws.
If the Tinubu administration is truly committed to the Renewed Hope Agenda (which we know he is), then men like Ojulari cannot be allowed to trample on the hopes of millions.
TO THE PRESIDENT: THE TIME TO ACT IS NOW
Mr. President, Nigerians entrusted you with their mandate to fix this country, not to watch it be further looted by powerful insiders. Keeping Bayo Ojulari in office sends a dangerous message—that corruption still has a seat at the table under your leadership.
Show Nigerians you are not captive to vested interests. Act decisively. Act now.
ADVOCACY MARCH
We have scheduled a 2 days advocacy march to press home our demand which is scheduled for 1st – 2nd July, 2025. We enjoin other Civil Society Organisations, Media and the Nigerian Public to join us in this advocacy march. No one should be allowed to loot our common patrimony again.
This letter is not a whisper. It is a roar.
We will not be silent.
We will not forget.
We will not let this pass.
Business
Senate Committee Commends Tinubu on Launch of National Halal Economy Strategy to Tap $7.7trn Global Market*
The Senate Committee on Finance has commended President Bola Ahmed Tinubu for launching Nigeria’s National Halal Economy Strategy, describing it as a bold and strategic move to position the country within the lucrative global halal market, estimated at $7.7 trillion.
In a statement signed by its Chairman, the committee praised the initiative as timely and aligned with international best practices. Several countries—including the United Kingdom, Canada, Australia, Malaysia, Indonesia, Saudi Arabia, the United Arab Emirates, Turkey, Brazil, Thailand, and Singapore—have successfully used halal frameworks to boost manufacturing, agricultural exports, financial markets, and foreign investment.
The committee highlighted Nigeria’s strong advantages for success in this space, including its vast agricultural resources, large domestic market, youthful population, growing manufacturing sector, and expanding services industry.
It noted that the strategy fits seamlessly into the Tinubu administration’s broader economic reforms, such as boosting non-oil revenue, diversifying exports, creating jobs, supporting small and medium enterprises (SMEs), and increasing foreign exchange earnings.
President Tinubu, represented by Vice President Kashim Shettima, officially unveiled the strategy on Thursday, February 6, 2026, at the Presidential Villa in Abuja.
The framework, developed in collaboration with Saudi Arabia’s Halal Products Development Company (HPDC) following a bilateral agreement signed in February 2025 at the Makkah Halal Forum, aims to enhance quality standards, certification processes, and competitiveness across sectors like food, pharmaceuticals, cosmetics, tourism, and ethical finance.
The committee described the strategy as inclusive, market-driven, and globally oriented, while fully respecting Nigeria’s diverse and pluralistic society.
It is projected to contribute significantly to the economy, with estimates suggesting it could add around $1.5 billion to Nigeria’s GDP by 2027 and unlock billions more in domestic value over the coming decade through expanded exports and investment.
The Senate Committee on Finance pledged its full legislative support, oversight, and cooperation to ensure smooth implementation, regulatory clarity, and long-term fiscal sustainability in the national interest.
“This decisive step reinforces Nigeria’s readiness to adopt proven international models, unlock new economic frontiers, and establish itself as a competitive player in the evolving global economy,” the statement concluded.
A property transaction dispute has emerged involving Zoe New Dawn Nigeria Limited and a former Chief of Naval Staff, following claims by the company’s chairman, Engr. Dr. Stephen Achema Akpa, that a ₦100 million payment made for land was not followed by a transfer of ownership.
According to Akpa, the payment was made in connection with a land transaction reportedly facilitated by the former naval chief. He alleged that despite documented payments, the land in question was neither transferred to the company nor was the money refunded.
Akpa said Zoe New Dawn Nigeria Limited possesses transaction records and related documents which, he claims, support its position in the dispute. He added that the company has initiated steps to seek redress through appropriate legal channels.
The matter has drawn attention due to the profile of the parties involved, particularly against the backdrop of recurring disputes linked to land ownership and property transactions in Nigeria’s real estate sector.
Industry observers note that unresolved land transactions remain a common source of litigation, often arising from disagreements over title documentation, intermediaries, and contractual obligations.
Zoe New Dawn Nigeria Limited stated that it intends to pursue the matter through lawful means to determine liability and recover any funds deemed outstanding.
As of press time, no official response had been issued by the former Chief of Naval Staff regarding the allegations. The dispute has not yet been confirmed as the subject of any court proceedings.
Minister of Works Senator Dave Umahi over the weekend inspected the progress of the 7th Axial Road project in the Lekki Corridor of Lagos.
The project, located behind the Dangote Refinery, is a crucial cargo handling route for the Lekki Deepwater Port and connects the Lekki Corridor with the Sagamu route.
The Minister expressed confidence in China Harbour Engineering Company Limited (CHEC), the project’s contractor, citing its successful delivery of the Lekki Deepwater Port and high-quality progress on the Makurdi-Enugu road reconstruction and expansion project. Umahi instructed that the roadbed filling work for Project LOT1 be completed by the end of April and directed the project team to accelerate resource input and tangible works to meet the deadline.
The 7th Axial Highway is expected to synergize with key infrastructure projects like the Coastal Road, Dangote Road, and Lekki Port, creating a comprehensive transportation hub model and boosting Nigeria’s port economy and industrial corridor. Umahi emphasized the need for environmental protection agencies to ensure efficient construction and steady progress while maintaining ecological safety.
A representative of CHEC who spoke during the inspection stated that the company would maintain a high level of resource input, implement the Minister’s directives, and coordinate safety, quality, and environmental protection to ensure the project’s timely and high-quality completion in other to unluck its port relief and regional economic benefits.
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