The Energy Justice Forum (EJF), a coalition of energy sector advocates, has cautioned the newly appointed management of the Nigerian National Petroleum Company Limited (NNPCL) against adopting the policies of former Group Chief Executive Officer Mele Kyari, describing them as harmful and overly fixated on foreign currency gains.
In a public statement issued Friday, the EJF strongly criticized the direction of Kyari’s tenure and warned that continuing on that trajectory would be detrimental to Nigeria’s energy sovereignty and economic stability. The group urged the new GCEO, Bayo Ojulari, and board chairman, Ahmadu Musa Kida, to embrace a more people-focused and transparent approach to managing the nation’s oil resources.
The coalition threw its full support behind President Bola Tinubu’s recent reinstatement of the naira-for-crude oil exchange policy—a move aimed at supporting domestic refineries and reducing Nigeria’s dependence on imported fuel products.
Speaking on behalf of the organization, Dr. Godknows Manager, EJF’s national president, hailed the policy shift as a bold and much-needed course correction. He described the decision as one of the most patriotic acts in Nigeria’s petroleum industry in recent history.
“This is not about one refinery or one investor,” Manager emphasized. “It’s about giving local refineries—including those in Port Harcourt, Warri, and Kaduna—a fighting chance to succeed. It’s about ensuring that Nigerians are no longer at the mercy of volatile foreign exchange markets when it comes to purchasing fuel.”
He further noted that the return to naira-based crude sales could be a turning point for Nigeria’s economic self-reliance, especially after years of setbacks caused by over-reliance on imported petroleum products priced in U.S. dollars.
“The previous administration at NNPCL nearly crippled our economy with their so-called liberalisation policies, which in reality exposed us to massive forex risks and kept local refineries dormant,” Manager said. “Now, Nigerians are beginning to feel a renewed sense of hope that their natural wealth might finally serve the national interest.”
He issued a stern warning to the new NNPCL leadership, saying the public is closely monitoring their actions and will not tolerate any regression into the opaque practices that defined the previous administration.
“There must be no return to the shadowy deals and dollar-dominated swaps that characterized Kyari’s time in office,” he said. “We expect a full audit of all contracts, swap deals, and supply arrangements signed under his leadership. Transparency and accountability must be the foundation of the new era.”
The EJF called for the NNPCL to prioritize working with indigenous investors and engineers, arguing that local collaboration is key to building a sustainable, home-grown energy industry.
“We can’t keep outsourcing our future to foreign interests,” Manager stated. “If we want to truly industrialize, we must believe in our own capacity, empower our people, and hold public institutions to the highest standards.”
In closing, the EJF called on civil society and the Nigerian public to remain vigilant and engaged, stressing that reforms in the oil and gas sector must be both people-centered and sustainable.
“This is a new dawn,” Manager declared. “The new NNPCL must rise above the past and serve the interests of all Nigerians, not just a privileged few.”
