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NNPC Refinery Shutdown Ends Decades Of Self-Deception, Financial Waste – Ojulari

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Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), has characterized the recent shutdown of state-owned refineries as a necessary step to end decades of self-deception and financial waste.

Speaking at the Nigeria International Energy Summit (NIES), Ojulari said Nigeria had spent far too long pretending that its refineries were functional, even as they consistently failed to deliver value.

“For years, we told ourselves stories,” Ojulari said. “But the numbers never supported those stories.”

Nigeria’s four government-owned refineries, with a combined installed capacity of 445,000 barrels per day, have rarely operated anywhere near capacity. Yet successive administrations continued to budget for their rehabilitation, often without demanding measurable outcomes.

Ojulari said the internal review conducted by NNPC revealed that refinery operations had become a ritual rather than a business.

“We were running processes, not enterprises,” he said. “Money was going out, but value was not coming in.”

According to Ojulari, the decision to shut down the refineries was not taken lightly, given their symbolic importance.

“These refineries mean a lot to Nigerians emotionally,” he said. “But emotion cannot replace truth.”

Nigeria’s refineries operated efficiently through the 1980s and much of the 1990s, but performance declined in the 2000s as institutional focus shifted away from operational excellence toward EPC contracting, O&M structures, and financing-driven interventions.

This transition weakened preventive maintenance culture, increased reliance on turnaround maintenance cycles that proved more commercially attractive to external parties, and contributed to the gradual erosion of in-house operational capacity within NNPC.

Between 2010 and 2023, Nigeria reportedly spent more than ₦11 trillion on refinery repairs. Despite this, fuel imports continued to dominate the domestic market, placing pressure on foreign exchange reserves and undermining energy security.

Ojulari said continuing along that path would have been irresponsible.

“At some point, leadership requires honesty,” he said. “We had to admit that this system was not working.”

He added that the shutdown allows NNPC to confront reality without the distraction of ongoing losses.

“You cannot fix a problem you refuse to acknowledge,” Ojulari said.

The NNPC boss also credited the Dangote Refinery with creating the space for reform.

“Whether you love Dangote or not, thank God it is working,” he said. “It allows us to stop pretending.”

Ojulari said NNPC is now focused on restructuring the refineries with credible partners.

“We are not interested in cosmetics,” he said. “We want real change.”

According to him, the shutdown represents a moral as much as an economic decision.

“This is how nations grow: by telling themselves the truth,” Ojulari maintained.

 

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Fidelity Bank Advocates for Inmates’ welfare with donation to Enugu Custodial Centre

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Tier one lender, Fidelity Bank Plc has reaffirmed its commitment to health and social welfare with the donation of food and essential items to inmates at the Enugu Maximum Security Custodial Centre.

 

The outreach was carried out by the newly inducted Legacy Class of 2026 and executed under the bank’s flagship Corporate Social Responsibility (CSR) platform known as the Fidelity Helping Hands Project (FHHP). Through the FHHP, staff identify areas of critical interventions in their immediate communities, raise funds and then receive matching financial support from the bank’s management to execute the projects.

 

Items donated by the Legacy class include a range of food supplies such as garri, spaghetti, noodles, biscuits, milk, and other essential consumables aimed at supporting the welfare and living conditions of inmates at the facility.

 

Speaking on the visit, Divisional Head, Brand and Communications Division, Fidelity Bank Plc, Dr Meksley Nwagboh, described the initiative as a key component of the Bank’s culture, designed to inspire compassion and a sense of responsibility in its workforce.

 

“As part of our induction programme, we encourage new staff to identify meaningful ways to impact their communities. In assessing the needs of this facility, it became clear that providing food and other essentials would make an immediate difference. With over 3,000 inmates here, the daily effort required to feed and care for them is enormous. We believe that this donation will significantly support the centre’s ongoing work and contribute to improving the welfare of the inmates,” he said.

 

Nwagboh further emphasized the broader vision behind the initiative, noting that the bank is committed to raising socially conscious professionals. “At Fidelity Bank, we are intentional about building not just skilled employees, but responsible citizens. Initiatives like this help our staff connect with real societal needs and inspire them to make meaningful contributions beyond the workplace,” he stated.

 

In his response, the Deputy Controller of Corrections at the facility, Dr. Sunday Igwe, commended Fidelity Bank for nurturing a strong culture of social responsibility among its workforce. He described the donation as timely and impactful, noting that it would help alleviate some of the operational challenges faced by the facility.

 

Igwe further used the opportunity to caution Nigerians, particularly young professionals, against engaging in criminal activities such as fraud and cybercrime, emphasizing that personal decisions can have far-reaching consequences.

 

“People must understand that their choices determine their outcomes. We encourage everyone to stay focused and avoid actions that may bring them into conflict with the law,” he advised.

 

The Fidelity Helping Hands Project remains one of Fidelity Bank’s key CSR initiatives, enabling employee-led contributions that drive meaningful impact through inclusive development across Nigeria.

 

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

 

The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

 

L-R: Team Lead, Corporate Social Responsibility (CSR), Fidelity Bank Plc, Victoria Abuka; Deputy Controller of Corrections, Enugu Maximum Security Custodial Centre, Dr. Sunday Igwe; Team Lead, Human Resources and Business Partner, East & South, Fidelity Bank Plc, Osayi Uwumarongie; and President, Legacy Inductees Class of 2026, Fidelity Bank Plc, Darlington Okereke; during Fidelity Bank’s donation of food and essential items to Enugu Maximum Security Custodial Centre, in Enugu State recently.

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Six Arrested As Police Foil Planned Bombing Of Ondo State Facilities

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The Ondo State Police Command has arrested six suspects following a foiled attempt to bomb government facilities in Akure, the state capital.

On April 16, 2026 , the state Police Commissioner, Adebowale Lawal, described the operation as a “major breakthrough” in neutralizing the planned attack.

The suspects had allegedly infiltrated the state after mapping out the specific location of attacks.

While disclosing the development on Thursday, the Commissioner of Police in the state, Adebowale Lawal, during a press briefing at the state headquarters of the command, revealed that operatives were deployed to the identified area after receiving the intel.

According to Lawal, the suspects were apprehended before the planned attack could be executed, adding that the operation led to the arrest of six suspects as well as the recovery of materials suspected to be components for the fabrication of IEDs.

The police boss identified the suspects as Adekunle Prosper, 56, Ojo Olumide, 39, Tope Kolawole, 40, Ahmed Salihu, 40, Bolaji Adebowale, 46, and Gbadebo Abidemi, 43.

He said, “A thorough search of the scene and a subsequent operation at the suspects’ apartment resulted in the recovery of a cache of items, including 217 bottles, a bag of sugar, criminal charms, 17 mobile phones, the sum of N187,000, two HP laptops, eight slings, one knife, an external hard drive, two identity cards, one National Identity Number (NIN) card, and two motorcycles, among other items.

“Preliminary assessments indicate that some of these materials were intended for the construction of explosive devices, while others may have been used to facilitate coordinated criminal activities.

“Early findings from the investigation reveal that the group actively engaged in assembling IEDs allegedly intended for deployment on government infrastructures, with indications that their operations may extend beyond the state capital to other parts of the country.”

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Lagos APC Members Accuse Party Leadership Of Bypassing Primaries

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A faction of the Lagos State chapter of the All Progressives Congress (APC), operating as “Concerned and Vigilant Members,” has alleged a plot by party leaders to bypass direct primaries and impose candidates for the upcoming House of Representatives and State House of Assembly elections.

In a statement issued on Wednesday and signed by Tunde Samson on behalf of what it described as “concerned and vigilant members,” the group accused key party figures, including James Faleke, Cornelius Ojelabi, and Mutiu Are, of allegedly holding private meetings to compile a predetermined list of candidates for the House of Representatives and the Lagos State House of Assembly.

The group claimed the meetings were taking place at a private residence and described the development as a deliberate attempt to undermine the party’s stated commitment to direct primaries.

“This runs contrary to the party’s clear position on direct primaries and represents a serious threat to internal democracy. It undermines the rights of party members and disregards the principles upon which the party stands,” the statement read.

The members warned that they would oppose any effort to impose candidates, insisting that the Lagos APC should not be controlled by a select group or reduced to a platform for predetermined political arrangements.

They also referenced past controversies surrounding local government elections in the state, alleging that earlier exercises were characterised by irregularities and imposition, a situation they said must not be repeated.

The group further called on President Bola Tinubu to intervene and ensure that democratic processes are upheld within the party.

According to them, Tinubu has a track record of participating in party primaries and remains an advocate of transparent and credible electoral processes.

Issuing what it described as a final caution, the group stressed that any attempt to sidestep due process could provoke strong resistance within the party.

“There must be free, fair, and transparent primaries. Anything short of that will be resisted,” the statement added.

Efforts to obtain responses from the individuals mentioned in the allegations were unsuccessful as of the time of filing this report.

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