The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Bayo Ojulari, on Monday addressed energy stakeholders at the ongoing Nigeria Annual International Conference and Exhibition organised by the Society of Petroleum Engineers, ignoring rumours of his alleged forced resignation.

Ojulari’s speech, delivered virtually at the event, laid to rest the speculations and apprehension surrounding an online report claiming that he was forced to resign by some government agencies.

Speaking at the event, Ojulari called for a coordinated, strategic approach to make Nigeria’s energy sector more attractive to global investors, stating that Nigeria needs a bankable case for energy investments.

He stressed the urgent need for Nigeria to present a compelling and credible case to compete for global capital, especially as sustainability and Environmental, Social, and Governance criteria increasingly influence investment decisions.

“In a world where global capital pools are vast, the competition for them is fierce. Africa must not just participate; it must compete. Nigeria must make its energy story bankable, sustainable, and globally relevant,” Ojulari said during his virtual presentation.

Rejecting the notion that oil and gas are sunset industries, Ojulari argued that they remain central to a sustainable and inclusive energy future. He stressed that fossil fuels must be strategically repositioned to work in tandem with emerging energy technologies.

“The future of energy is not linear. It is shaped by the decisions we make today, how we invest, how we innovate, and how we collaborate. We must embrace technologies like carbon capture and storage, hydrogen development, artificial intelligence, smart grid systems, and compressed natural gas as strategic enablers, not as buzzwords,” he stressed.

He highlighted the progress being made with CNG adoption across Africa, which he said is already having a tangible impact. According to him, modern and clean fuel alternatives are essential to displacing traditional biomass and ensuring a just energy transition.

Ojulari underscored the importance of de-risking Nigeria’s energy environment to attract long-term investment. This, he said, can only be achieved by improving governance, strengthening regulatory frameworks, honouring contracts, and building transparent dispute resolution systems.

Ojulari reiterated that Africa’s energy transition must be contextualised and negotiated, not imposed. With millions across the continent still lacking access to reliable electricity, he said the emphasis must remain on energy justice and inclusion.

“Our transition must be just. It must reflect the reality that in many parts of Africa, energy poverty is still the dominant challenge. Natural gas must be recognised as a transitional fuel for Africa, allowing us to meet climate goals without sacrificing development,” he added.