{
  "id": 18820166,
  "title": "Bayo Ojulari: A Strong Move",
  "url": "https://urgent.news/2026/11/08/bayo-ojulari-a-strong-move",
  "topic": "world",
  "section": "World",
  "published": "2026-11-08T00:09:00.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/11/08/bayo-ojulari-a-strong-move/"
  },
  "original_language": "en",
  "account": "Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Corporation (NNPC), has reportedly proposed the potential sale of 5% of the struggling corporation to equity investors. During his remarks, Ojulari also mentioned the corporation's plans to dual-list on stock exchanges, reflecting a possible shift in strategy.\n\nOjulari's comments come amidst a backdrop of criticism from the journalist, who had previously expressed concerns over the Board composition of a related entity, JP Morgan. The journalist had previously been accused of exaggerating or creating a scenario that did not exist. However, it appears that Ojulari's assertions may be gaining traction, as the NNPC appears to be positioning itself for potential FDI (Foreign Direct Investment).\n\nThe journalist emphasizes the importance of not settling for anything less than a full sale of the company. He argues that selling just 5% falls short of addressing the NNPC's inefficiencies and suggests that the government should take a step back, transferring authority to the Ministry of Petroleum. This way, the NNPC can be effectively run, generating revenue through licensing fees, taxes, and VAT, among other sources.\n\nThe journalist asserts that selling just 5% of the corporation is akin to treating a minor ailment with a remedy meant for a serious disease. He urges the NNPC to either proceed with the sale or refrain from any action, but stresses that the decision should not be taken lightly. He considers such a move as \"playing 'boju boju' with our destiny,\" urging for decisive action.",
  "summary": "Egbon Bayo is the GCEO of the giant NNPC. Well, he has been reported to have announced that they were looking at selling 5% of the inefficient corporation to equity",
  "key_points": [
    "Bayo Ojulari proposes selling 5% of NNPC to equity investors",
    "NNPC plans to dual-list on stock exchanges",
    "Journalist urges for full sale or no action"
  ],
  "editors_take": "The proposed sale of a minority stake signals a shift toward attracting foreign investment, though critics argue such a limited divestment fails to address the corporation's deep-seated structural inefficiencies.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}