Ojulari disclosed this on Thursday while receiving a delegation of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), led by its president, Comrade Festus Osifo, at the NNPCL headquarters in Abuja.
According to the NNPCL boss, the reforms he introduced to revive the nation’s moribund refineries—mandated by President Bola Tinubu—have unsettled vested interests who are now plotting to remove him from office.
“We are under attack. It is real. There are formidable plans to take me out of this seat. But we are determined to stay focused and deliver on the mandate given to us by President Tinubu,” Ojulari declared.
He revealed that after a comprehensive technical and commercial review, the company was considering an NLNG-style partnership model with a professional refinery operator to ensure sustainability and profitability.
Ojulari explained that Nigeria’s refineries had become unprofitable due to years of neglect, with losses running into hundreds of millions of dollars monthly.
“A lot of money has been spent on these refineries, but translating that into profitability has been difficult. When I resumed, we found that we were losing between $300 million and $500 million monthly. We had to stop operations and seek a sustainable solution,” he noted.
Despite the threats and petitions against him, including to the Economic and Financial Crimes Commission (EFCC), the GCEO assured staff that jobs would not be at risk, stressing instead that new opportunities and training would be created as the refineries are modernised.
On fuel supply, Ojulari said NNPCL’s strategic partnerships—including its equity in the Dangote Refinery—had prevented major shortages. He projected that within two to three years, at least one or two Nigerian refineries would be fully operational to meet sub-Saharan Africa’s growing demand.
In his remarks, PENGASSAN President, Comrade Festus Osifo, commended the NNPCL management for the progress achieved under Ojulari’s leadership.
“Our pipelines are now working. Also, crude oil theft has significantly reduced, leading to increased production. As PENGASSAN, we assure you that we are solidly behind you. We will work with you and collaborate with your team to ensure stability for the benefit of all Nigerians,” Osifo stated.
