Two years after the launch of crude oil drilling at the border of Bauchi and Gombe states, the new head of Nigeria’s National Petroleum Company Limited (NNPCL), Bayo Ojulari, has announced plans to resume operations.

On Tuesday, November 22, 2022, then-President Muhammadu Buhari inaugurated the Kolmani oil drilling project, marking the first-ever crude oil exploration in northern Nigeria. But the project was stalled soon after it was flagged off.

Speaking in an interview with the BBC on Monday, Ojulari urged residents of the region to remain calm, assuring them that drilling activities would resume.

He said, “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 added that these projects would revive previously closed industries and create new ones.

“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,” Ojulari stated.

Ojulari, who also hails from northern Nigeria, said he was surprised by some of the reactions to his appointment and called on citizens across the country to support him and pray for his success in advancing both the region and the nation.

Peace with Dangote

On the lingering rift between NNPCL and Dangote Group, the new CEO said efforts were already underway to mend fences.

“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 stressed that any future disagreements would be resolved through dialogue, adding, “You won’t hear of any more clashes between NNPCL and Dangote Refinery. We’ll work together for Nigeria’s benefit.”

Global oil prices

Ojulari also addressed the recent drop in global crude oil prices, which has reduced Nigeria’s expected revenue.

“This decline affects Nigeria’s budget since a major part of it relies on projected oil revenue,” he said.

However, he noted that NNPCL was working to cut operational costs to make the most of what it earned from oil and gas sales.

Responding to public complaints that local fuel prices did not drop even when global prices fall, Ojulari explained that dealers needed time 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. (Daily Trust)