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NNPCL Boss Accused of Economic Sabotage Over Port Harcourt Refinery Shutdown

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The Independent Corrupt Practices and Other Related Offences Commission for Nigeria (ICPC) has been urged to investigate and take action against Bayo Ojulari, Group Chief Executive Officer (GCEO) of the Nigeria National Petroleum Corporation Limited (NNPCL), over allegations of economic sabotage and lying.

According to an open letter addressed to the ICPC Chairman on Monday September 1, 2025, Ojulari allegedly ordered the shutdown of the Port Harcourt refinery despite it being profitable, with an average monthly net profit of over $20 million. The letter claims that Ojulari’s decision was motivated by plans to sell the refinery at scrap value to a company allied with him and to divert the refinery’s crude oil allocation for personal gain.

The group also addressed the open letter to President Bola Tinubu, Senate President Godswill Akpabio, and Speaker of the House of Representatives Tajudeen Abbas regarding their recent concerns about the management of the state-owned refinery.

The letter further alleges that Ojulari has been peddling falsehoods about the refinery’s operations, initially claiming that it was shut down for maintenance and later stating that it was running at a monthly loss of N500 million.

An economic analysis of the refinery’s operations, attached to the letter, shows that the refinery was generating an average monthly net profit of $20 million under various scenarios. The analysis suggests that Ojulari’s claims of the refinery running at a loss are false and that the shutdown was a deliberate act of economic sabotage.

The signatories to the letter, including OilWatch Nigeria, Workers’ Rights Alliance, and Nigeria Concerned Citizens Watch, are calling for Ojulari’s immediate removal from office and an independent investigation into the refinery’s shutdown.

The letter reads in part:

On Thursday, 28th August 28, 2025, the embattled Group CEO of NNPC Limited, Bashir Ojulari told yet another lie in the ever-changing narrative of why he made the reckless decision of shutting down Port Harcourt refinery. From his initial lie that the refinery was shut down because it was due for maintenance, Ojulari is now peddling yet another falsehood that Port Harcourt refinery was shuttered because it was running at a monthly loss of N500million. This he stated during an interactive session with PENGASAN officials in Abuja, on Thursday, 28th August, 2025.

Whilst it is difficult to keep track of Ojulari’s ever-evolving position on Port Harcourt refinery, the fact remains that the refinery was running profitably and earning Nigeria an average monthly profit of over $20million before Ojulari made his Ill-advised decision to have the refinery shut down. This is from concrete evidence obtained from very senior NNPCL officials, who had advised Ojulari against his reckless decision. The truth of the matter is that Ojulari ordered the shutting down of Port Harcourt refinery

because he had made plans to sell the refinery (at scrap value) to AYM Shafa Group, a company allied with both himself and Bashir Haske (son -in law to Atiku Abubakar, who was recently declared wanted by the EFCC). Secondly, Ojulari wanted the monthly crude oil allocation for Port Harcourt refinery to be diverted to his friends and cronies, for sale as spot cargoes for personal gain.

By shutting down a fully operational refinery, Ojulari has committed unforgivable economic sabotage against the government and people of Nigeria, and no amount of lying and double speak can change that fact. We call for an independent economic analysis of the refinery’s operations, prior to its unceremonious closure by Ojulari. Even the most uneducated eye can spot Ojulari’s lie once they look at the economic analysis provided below.

This refinery was running smoothly and making over $20million monthly for Nigerians. It was not running at a loss as falsely claimed by Ojulari.
Please see high-level economic analysis for the refinery, below:

Economic Analysis of Port Harcourt Refinery Operations.
A detailed economic analysis of the operation of Port Harcourt refinery has been conducted under five (5) scenarios. Based on an average prevailing crude oil price of $66.28/barrel, Crack C5+ price of $635/ton, refinery operating expenditure (OPEX) of $7/barrel, and prices of petroleum products, namely, LPG at $486/ton, AGO at $711.1/ton, Kerosene at $733/ton, Naphtha at $553.3/ton, PMS at $725/ton and LPFO at $554.6/ton, as provided by PHRC, the following results have emerged; showing that the refinery was generating an average monthly NET profit of US$20million in the worse-case scenario.

Model

Gross Profit Per Month ($ Million/Month) Gross Profit Per Barrel ($/Barrel) Net Profit Per Month ($ Million/Month) Net Profit per Barrel ($/Barrel

Model

1 31,510 19.45 20.170 12.45

Model

2 46.51 28.67 35.11 21.67

Model

3 40.606 25.07 29.266 18.07

Model

4 32.539 20.09 21.199 13.09

Model

5 47.481 29.31 36.141 22.31

Model 1 : Only Unit 10 (CDU) is running, the LPG is flared, and Naphtha is sold as an unfinished product. This is the configuration the refinery was operating before it was shut down on 24 th May 2025. Under this model, the refinery was generating an average monthly NET profit of US$ 20million.

Model 2: Only Unit 10 (CDU) is running, the LPG is flared, and Naphtha is blended with Crack C5+ to produce PMS.

Model 3: Both Unit 10 (CDU) and Unit 12 (CRU) are running, while Unit 14 (LPG recovery) is not operational. The LPG is flared.

Model 4: Both Unit 10 (CDU) and Unit 14 (LPG recovery) are running. LPG is recovered, and Naphtha is sold as an unfinished product.

Model 5: Both Unit 10 (CDU) and Unit 14 (LPG recovery) are running. LPG is recovered, and Naphtha is blended with Crack C5+ to produce PMS. With Unit 14 now confirmed ready for commissioning, this configuration can be achieved as soon as the refinery resumes operation, with the possibility of generating an average monthly NET profit of US$ 35million.

We call for an independent economic analysis of the refinery’s operations, prior to its unceremonious shutdown by Ojulari. Even the most uneducated eye can spot Ojulari’s lie once they look at the economic analysis we have provided. This refinery was making over N20billion monthly and not losing money as falsely asserted by Ojulari.

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Civil Society Coalition Raises Alarm Over Nigeria’s Maritime Boundaries, Oil Wells Allocation

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A coalition of Civil Society Organizations (CSOs), maritime experts and policy advocates has raised serious concerns over Nigeria’s maritime boundary management and the allocation of offshore oil wells, calling for urgent intervention by the Federal Government.

The concerns were presented on Thursday in Abuja during a civil society roundtable where the coalition leader, Dr. Gabriel Nwambu, addressed stakeholders and unveiled the communiqué issued after a recent verification mission to Nigeria’s offshore maritime corridor bordering Cameroon and Equatorial Guinea.

The communiqué followed a technical fact-finding and verification exercise conducted at sea on February 28, 2026, focusing on Nigeria’s offshore hydrocarbon blocks OML 114, OML 115 and OML 123 as well as the maritime boundary areas involving Nigeria, Cameroon and Equatorial Guinea.

Dr. Nwambu explained that the mission involved maritime governance stakeholders, mapping professionals and public policy experts who undertook physical observation of the maritime corridor, technical mapping verification and consultations with relevant authorities.

According to the coalition, the mission sought to independently verify the status of Nigeria’s maritime boundaries, offshore hydrocarbon entitlements and the implications of administrative and regulatory decisions affecting the Cross River maritime corridor.

ICJ Judgment Clarified
Presenting the findings, the coalition noted that the 2002 judgment of the International Court of Justice (ICJ) between Nigeria and Cameroon ceded only specific settlements in the southern Bakassi Peninsula — Atabong, Akwabana and Archibong Town — to Cameroon.

The coalition stressed that several areas often assumed to have been ceded were not included in the ruling.

“The Cross River Estuary and the western Bakassi peninsular islands of Dayspring I and II, Abana and Kwa Island were not ceded under the ICJ judgment,” the communiqué stated.

The group further emphasized that Nigeria still maintains maritime boundary continuity between the Cross River Estuary and the Akwayefe River Estuary based on the ICJ cartographic evidence and the physical geography of the region.

Dr. Nwambu also clarified that the Cross River Estuary remains Nigeria’s natural maritime gateway to the Atlantic Ocean and provides Cross River State with direct offshore access.

Questions Over Boundary Management

A major concern raised by the coalition relates to the actions of the National Boundary Commission (NBC) in implementing the Offshore/Onshore Dichotomy Abrogation Act using what it described as a temporary implementation map.

According to the communiqué, the baseline drawn from Tom Shot into the Cross River Estuary effectively closed the estuary’s mouth to the sea, thereby rendering Cross River State non-littoral.

The coalition warned that this development raises serious constitutional, economic and national security concerns.

It further criticized the NBC for failing to demarcate the Nigeria–Cameroon maritime boundary more than two decades after the ICJ ruling, stating that continued reliance on the temporary map could jeopardize Nigeria’s territorial integrity.

The report also alleged that the situation has effectively resulted in the ceding of about 780 hectares of maritime waters within the Cross River Estuary toward the Akwayefe River Estuary to Cameroon.

Oil Wells and Revenue Concerns

Beyond boundary issues, the civil society coalition raised alarm over oil revenue allocation and the management of transboundary oil fields.

According to the findings, the failure of relevant institutions to brief the President on key inter-agency reports could prevent Nigeria from exploiting 49 identified transboundary oil wells located within OML 114 in the Cross River Estuary.

The coalition also raised concerns over alleged financial irregularities relating to the Ekanga and Zafiro transboundary oil fields jointly developed by Nigeria and Equatorial Guinea.

It alleged that more than ₦33 billion may have been approved from the Federation Account in favour of Akwa Ibom State without clear presidential authorization.

The group further questioned whether revenues from the Ekanga and Zafiro fields — estimated at over $8 billion — had been properly remitted into the Federation Account.

Call for Presidential Intervention

To address the concerns, the coalition recommended several urgent measures, including a presidential review of the 2024 and 2025 inter-agency oil verification reports affecting Cross River and Akwa Ibom states.

It also called for the proper demarcation of the Nigeria–Cameroon maritime boundary in line with the ICJ judgment and the establishment of a Presidential Special Investigation Panel to probe the alleged loss of Nigerian maritime waters.

Other recommendations include a forensic audit of revenues from the Ekanga and Zafiro oil fields, investigation into the alleged ₦33 billion payment approvals, and diplomatic engagement with Cameroon to develop transboundary reservoir agreements.

The coalition also urged the Federal Government to restore and recognize Cross River State’s littoral status based on the geographic and legal status of the Cross River Estuary.

National Security Implications

In its concluding remarks, the coalition warned that the issues uncovered during the verification mission have far-reaching implications for Nigeria’s territorial integrity, maritime sovereignty, national security and oil revenue accountability.

Dr. Nwambu called on the President to treat the matter with urgency, stressing that transparent management of maritime boundaries and offshore resources remains critical to Nigeria’s economic stability and geopolitical standing.

The communiqué was jointly signed by representatives of the coalition of civil society organizations, maritime policy experts, technical observers and economic governance accountability groups.

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Nigerian Youth Storm National Assembly Demands Access to Present Dishonourable Award to Senator

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Nigerian Youth under the leadership of Empowerment for Unemployed Youth Initiative (EUYI) on Tuesday stormed the National Assembly to present Senator Olajide Ipinsagba with the Most Dishonourable Senator of the year award.

EUYI previously threatened to present the Senator with the award, citing a plethora infractions and unwholesome dealings especially with his legislative aids and associates.

The group urged the Senate President to grant them access to the hallowed chambers to make the presentation as wake up call to other public servants.

Addressing the press at the National Assembly complex, Comrade Danesi Momoh Prince disclosed that they had gathered as early as 7 am at the National Assembly gate only to discover that the Senate is not sitting and that the embattled Senator was absent despite prior information.

“We’re angry that Senator Olajide Ipinsagba has refused to show up and collect his award for his dishonourable conduct especially as it pertains the exploitation and underemployment of Nigeria youth under his office

“How can a Senator be paying his legislative aid 30,000 naira when the national minimum wage is 70,000 Naira? Is he the only one that needs money? Is it not wickedness to treat unemployed Nigerian youth like that?”, he queried.

The group vowed to go ahead and present the award to the Senator in person, be it in the Senate Chambers or his house. We shall however not give the award to anybody but the senator due to the “seriousness of his offense”

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Group Cautions Against Unverified Claims on TCN, Calls for Institutional Dialogue

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The Network of Advocacy for Positive Impact Initiative (NAPII) has cautioned against the spread of unverified allegations concerning the operations of the Transmission Company of Nigeria (TCN), warning that such claims could undermine public confidence in Nigeria’s electricity infrastructure.

Addressing journalists in Abuja on Monday, the Executive Secretary of the organization, Comrade William Smith Bassey, said the advocacy group convened the media briefing to promote balanced engagement and prevent misinformation in the power sector.

Bassey said while public scrutiny of government institutions remains important in a democratic system, allegations capable of affecting critical national infrastructure must be handled responsibly and through appropriate institutional channels.

According to him, Nigeria’s electricity transmission network plays a central role in the country’s power supply chain and therefore requires stability, public confidence, and constructive engagement from all stakeholders.

“The transmission system is the backbone of the nation’s electricity supply architecture. It connects power generation to distribution companies across the country. Any narrative that casts doubt on this vital institution must be examined carefully to ensure it does not distort public perception,” he said.

The group noted that recent reports circulating in the media about the operations of TCN appeared to contain sweeping claims that could create unnecessary anxiety within the power sector if not properly contextualized.

NAPII maintained that government agencies such as TCN operate under established administrative procedures and regulatory oversight that ensure transparency and accountability in their activities.

Bassey explained that issues relating to procurement processes, operational decisions, and management policies within public institutions are subject to review by the appropriate authorities, including supervising ministries and regulatory bodies.

“Where concerns exist, they should be presented through formal mechanisms that allow proper investigation and resolution. Public accusations without adequate verification risk creating tension and diverting attention from ongoing reforms in the power sector,” he said.

The organization also highlighted the operational challenges faced by transmission infrastructure across Nigeria, noting that transmission facilities are spread across vast geographical areas, including remote and difficult terrains that require continuous monitoring and technical intervention.

According to the group, maintaining and expanding the national grid requires consistent efforts by engineers and technical teams who work round the clock to ensure electricity transmission remains stable.

NAPII stressed that at a time when the country is making efforts to improve power supply, strengthen grid stability, and support economic development, stakeholders must act with a sense of national responsibility.

The advocacy group advised interested parties to utilize available institutional processes to obtain relevant information about TCN’s budgetary allocations and operational activities, particularly through records approved by the National Assembly and relevant oversight bodies.

“We believe that issues affecting institutions as strategic as the Transmission Company of Nigeria should be addressed through dialogue, responsible advocacy, and evidence-based discussions rather than exchanges that may generate confusion,” Bassey said.

He added that the organization has confidence in the current management of the Transmission Company of Nigeria and urged stakeholders to allow the institution to continue carrying out its mandate without undue distractions.

NAPII further emphasized that national institutions must be strengthened through constructive criticism and proper oversight mechanisms rather than weakened by narratives that may not fully reflect the realities within the sector.

The group reaffirmed its commitment to promoting responsible public discourse, transparency, and balanced engagement on matters affecting Nigeria’s development.

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