Bayo Ojulari Leads Approval of $20 Billion Bonga Southwest Aparo Project

Bayo Ojulari, NNPC Group Chief Executive Officer, has played a pivotal role in securing President Bola Ahmed Tinubu’s approval of a targeted fiscal incentive to unlock the Final Investment Decision (FID) on the Bonga Southwest Aparo deepwater project. The approval, facilitated under Ojulari’s leadership, is expected to attract about $20 billion in foreign direct investment, boost Nigeria’s deepwater production capacity, and strengthen investor confidence in the country’s energy sector.

Ojulari emphasized that sustained reforms, policy clarity, and strategic partnerships were critical in resolving long-standing challenges that had stalled the project for nearly two decades. Under his guidance, NNPC Limited coordinated negotiations between Shell, regulatory agencies, and the federal government to clear fiscal and regulatory hurdles.

Energy analysts note that Ojulari’s leadership has not only fast-tracked one of Nigeria’s most strategic deepwater projects but also reinforced the message that reform-driven policies can convert previously stalled national assets into profitable ventures.

Bayo Ojulari Drives Strategic Negotiations and Reforms

Bayo Ojulari spearheaded months of negotiations involving NNPC Limited, Shell, the Nigeria Revenue Service, and the Presidency’s energy advisory team. His leadership ensured that fiscal and regulatory issues delaying the project were comprehensively addressed.

In a statement, Ojulari highlighted that the approval reflects the power of clear policies and sustained reforms. “This decision proves that strategic government engagement, coupled with private-sector collaboration, can unlock stalled national assets and convert them into viable investments,” he said.

Observers have commended Ojulari for his hands-on approach, noting that his ability to bridge government objectives with investor needs has reinforced Nigeria’s reputation as a credible destination for deepwater investment and strengthened confidence in the country’s reform-driven energy agenda.

Economic and Energy Implications Under Ojulari’s Leadership

Under Bayo Ojulari’s supervision, the Bonga Southwest Aparo project is expected to produce approximately 150,000 barrels of oil and 140 million cubic feet of natural gas daily. Industry experts say this production boost will significantly reshape Nigeria’s deepwater capabilities and enhance national revenue streams.

Ojulari also highlighted the project’s employment potential, estimating over 5,000 direct and indirect jobs will be created. The initiative aligns with his broader vision for energy-sector-led economic growth, combining strategic investment with tangible benefits for local communities.

Finally, energy analysts note that Ojulari’s proactive approach has strengthened global investor confidence. By turning a long-delayed project into a viable investment, his leadership demonstrates how effective executive management can drive Nigeria’s energy sector toward long-term growth, sustainability, and profitability.