Business

The Enemy Within: On NNPCL GMD Bayo Ojulari’s Frenemies

Published

11 months ago

August 28, 2025

By Lanre Alfred

I have often said that the most dangerous wars are not fought in the deserts of Sambisa or the swamps of the Niger Delta; they are planned over champagne glasses in Maitama lounges, perfected in the conspiratorial corners of Abuja cocktail parties and waged in polished boardrooms.

Power in Nigeria is never left unchallenged, and if you imagine that enemies disappear because you survived one storm, then you are already courting disaster.

Which is why I find myself deeply unsettled by what I hear whispered in hushed tones about Bayo Ojulari, the Managing Director of the Nigerian National Petroleum Company Limited (NNPCL)....click link for details

He believes, so I hear, that the storm around him has passed. He assumes that because he has not been dragged into yet another public scandal in recent weeks, the vultures have abandoned their hunt.

Nothing could be further from the truth. If anything, the vultures are circling closer, hungrier, and deadlier than before.

And I say this with the conviction of one who has lived long enough in high society’s theatre of intrigue to know that the fiercest daggers are not wielded by enemies at the gate but by friends at the table.

The storm around Ojulari is not over, it has only gone underground. The cabal that once sought his head has not retired to the shadows in defeat; they have regrouped, reorganised, and this time, their playbook is sharper.

The story making the rounds in select Abuja drawing rooms is chilling. A high-ranking member of Ojulari’s own management team, yes, a man who sits across from him in meetings, who addresses him as “sir” with practiced deference, has now become the lead conspirator. This individual, from what I am told, has positioned himself as the mole, the inside man, feeding external traducers with information, documents, and ammunition that could destabilise Ojulari’s tenure.

This is the cruel irony of power: the most dangerous enemy is always the one who knows your schedule, your weaknesses, your blind spots. I do not envy Ojulari. Imagine sitting in a boardroom, trading jokes with a man who has already drafted your obituary in the corridors of influence.

But Abuja is Abuja. Here, betrayal is not a character flaw; it is a survival tactic. And if Ojulari is not yet fully awake to this reality, then the next ambush may very well end his career.

Unlike the first round of attacks, which were noisy and visible, this fresh batch of assaults is being fine-tuned to be surgical. I have heard whispers of dossiers, files thick with allegations, some perhaps exaggerated, others entirely fabricated.

These dossiers, according to insiders, are being prepared to be leaked to the media and the power brokers who matter, those who have the ears of President Bola Tinubu.

And make no mistake, Abuja thrives on perception. In this city, a rumour repeated often enough acquires the texture of fact. A rumour in Asokoro can become a headline in Lagos within 24 hours. By the time Ojulari hears the story, it may already be too late.

Pundits are quick to say this is the cabal fighting back. And they are right. Nigeria’s oil and gas industry has never been a playground for the fainthearted. The entrenched interests who feel sidelined by Ojulari’s policies are not the type to lick their wounds quietly. They are used to getting their way; they are used to cutting deals in the dark. For them, Ojulari is an inconvenient roadblock, a man whose tenure threatens the delicate balance of influence that has lined pockets for decades.

So, of course, they want him out. And, of course, they will not stop until they achieve it. But the intrigue takes a darker twist when you consider the speculation that if Ojulari has soiled his hands even slightly; by signing off on a questionable contract, overlooking a misstep, or failing to cover his tracks, the cabal will weaponise that evidence against him. In other words, if he has given them a nail, they will build a coffin around it.

What unsettles me most is not the cabal, it is the fact that the betrayal is internal. Abuja society is full of stories like this. I recall a certain parastatal head who, believing he had defeated his enemies, threw a lavish party at the Hilton, only to discover months later that the man leading the charge to remove him was the “loyal subordinate” who toasted him at the event. History is full of such tragedies.

The lesson is simple: the enemy within is always deadlier than the enemy outside. Outside enemies may threaten, but inside enemies are deadlier.

If I were in Ojulari’s shoes, I would not sleep with both eyes shut. I would first tighten my house, conduct loyalty checks, and identify the moles. It is not paranoia, it is survival. Every empire has fallen because the emperor trusted the wrong man at the wrong time.

Second, Ojulari must embrace transparency like a shield. The moment a fresh rumour or narrative is launched, he must counter it with facts. Delay is fatal. In Abuja’s gossip economy, silence is rarely golden; it is a death sentence.

Third, and perhaps most importantly, he must reposition himself as indispensable to President Bola Ahmed Tinubu’s larger economic reforms. Because in this city, relevance trumps innocence. If Tinubu sees him as integral to his oil and gas vision, the cabal’s darts may bruise but they will not bury him.

Permit me, at this juncture, a detour into the cocktail circuit, because that is where much of this war is being plotted. I was recently at a dinner in Maitama where a senator leaned over his wine glass and said, “Ojulari does not know what is coming.” The table chuckled knowingly. This is how Abuja operates; wars are fought with official memos and in coded jokes at private dinners.

In Wuse II lounges, among the city’s nouveau riche, the talk is already that Ojulari is a marked man. Some believe he will not last the year; others insist Tinubu will protect him because “Baba does not like to be seen as succumbing to blackmail.” But the fact that his fate is a topic of casual conversation at high-society gatherings tells you everything; you are only safe in Abuja when nobody is talking about you.

Ojulari’s case is a reminder of how fragile power is in Nigeria. Today, you are celebrated with front-page photographs and glowing press releases. Tomorrow, you are the subject of a leaked dossier, your name smeared in WhatsApp groups, your allies deserting you one by one.

I remember the story of a certain former minister, a man once hailed as the “star boy” of his administration. One day, he was the darling of the President; the next, he was left out in the cold, betrayed by those he thought loyal. Abuja does not do permanent friends, it only does permanent interests.

And so, I return to my refrain: the storm is not over. It has only gone quiet, and quiet storms are the deadliest. Bayo Ojulari must not be lulled into a false sense of security. The enemy is not at the gate, the enemy is in his team. And unless he sharpens his instincts, fortifies his alliances, and stays two steps ahead, he may yet be unceremoniously booted out of office.

Source: Thecapitalng

Business

Top 10 Richest Yoruba Billionaires: South West Wealthiest Entrepreneurs, Key Factors Behind Their Wealth

Published

1 day ago

July 26, 2026

The Daily Voice

The Yoruba ethnic group, predominantly located in Nigeria’s southwestern region, has long been home to some of the wealthiest and most influential entrepreneurs in Africa.

Over the years, these Yoruba billionaires have made significant impacts across various sectors, including oil and gas, banking, telecommunications, real estate, and entertainment. Their business acumen and achievements have not only helped shape Nigeria’s economy but have also garnered international recognition.

Here’s a look at the top 10 richest Yoruba billionaires and the key factors behind their wealth:

10. Sulaiman Adebola Adegunwa
Sulaiman Adegunwa is a billionaire philanthropist and businessman from Ogun State. He is the founder of Rite Foods Limited, a company best known for producing popular food and beverage brands in Nigeria. His investments also extend to education, as he founded the Sulaimon College of Education in Ogun State.

9. Fola Adeola
Fola Adeola is best known as the founder of Guaranty Trust Bank (GTBank), one of Nigeria’s largest and most respected financial institutions. He is also involved in several other ventures, including heading MainOne, a telecom company, and running the FATE Foundation, which supports entrepreneurship in Nigeria. His net worth is around $550 million.

8. Dele Fajemirokun
Dele Fajemirokun is one of the most respected Yoruba business figures, with investments spanning insurance, oil, and telecommunications. He is the chairman of AIICO Insurance and a key investor in Food Concepts, the parent company of Chicken Republic. His business acumen has earned him a net worth of $500 million.

7. Samuel Adedoyin
Samuel Adedoyin is a self-made billionaire who overcame humble beginnings to become one of the wealthiest Yoruba men in Nigeria. He is the founder of the Doyin Group, a conglomerate involved in manufacturing, agriculture, and real estate. Adedoyin’s journey from small business ventures to becoming a billionaire is truly inspirational, and his net worth is estimated at $540 million.

6. Oba Otudeko
Oba Otudeko, a respected business magnate and philanthropist, is the founder of Honeywell Group, a diversified industrial conglomerate with interests in food processing, oil and gas, and real estate. He also played a pivotal role in the Nigerian banking industry, previously serving as the chairman of First Bank of Nigeria. Otudeko’s net worth is around $550 million.

5. Tunde Folawiyo
As the managing director of Yinka Folawiyo Group, a conglomerate with interests in energy, agriculture, and real estate, Tunde Folawiyo carries on the legacy of his family’s business empire. His ventures in shipping and energy are particularly notable, and he also serves on the board of MTN Nigeria. His estimated net worth is around $650 million.

4. Deji Adeleke
Dr. Deji Adeleke is a prominent businessman and philanthropist, best known as the father of the famous Nigerian musician Davido. He is the founder of Pacific Holdings Limited, a company with interests in oil and gas, real estate, and logistics. Adeleke is also an investor in education, having established Adeleke University in Osun State. His net worth is estimated at over $700 million.

3. Jimoh Ibrahim
Jimoh Ibrahim is another leading Yoruba entrepreneur who has built his fortune through diversified business ventures. He is the CEO of Global Fleet Group, a conglomerate with interests in oil and gas, insurance, real estate, aviation, and publishing. A lawyer by training, Jimoh Ibrahim’s net worth stands at around $1.1 billion, largely due to his ability to navigate various industries successfully.

2. Femi Otedola
Femi Otedola is one of Nigeria’s most recognized billionaires, primarily due to his involvement in the oil and gas industry. He is the former chairman of Forte Oil, a major petroleum marketing company in Nigeria, and his business ventures have expanded into power generation, finance, and real estate. Otedola’s investments in key sectors like shipping and energy make him a major player in Nigeria’s economy. As of 2024, his net worth is estimated at $1.8 billion.

1. Mike Adenuga
While Mike Adenuga is a Yoruba billionaire, his reach extends beyond Nigeria to the rest of Africa. He is the founder of Globacom, one of Nigeria’s largest telecommunications companies, and he also has interests in oil exploration through his company Conoil. Adenuga’s strategic positioning in telecoms and oil has made him the second-richest man in Nigeria, with a net worth of over $6 billion.

SEE THEIR NET WORTH

Business

FG Unveils Portal, Targets 26,961 Nigerians for New Positions

Published

1 day ago

July 26, 2026

The Daily Voice

The Federal Government has launched the online registration portal for Phase III of the Renewed Hope Employment Initiative (RHEI), with plans to train 26,961 unemployed Nigerians in 70 high-demand skills as part of efforts to tackle unemployment and boost entrepreneurship nationwide.

The programme, which will run across the 36 states and the Federal Capital Territory (FCT), is expected to commence in August 2026 after the registration process is completed.

Speaking during the launch, the Minister of Labour and Employment, Dr Mohammed Dingyadi, said the initiative is designed to equip unemployed Nigerians with practical, market-driven skills that can lead to employment or self-reliance.

He explained that the government would adopt a ward-to-ward selection process to ensure that beneficiaries are drawn from communities across the country, promoting fairness and wider participation.

According to the minister, the programme aligns with the Federal Government’s broader agenda to reduce unemployment by expanding access to vocational training and enterprise development.

As part of the initiative, the government also announced plans to resettle 3,405 outstanding graduate trainees with starter packs and work tools after completing their training.

The support package is intended to help beneficiaries establish businesses or begin careers in their chosen trades, strengthening the government’s push for sustainable job creation.

Dingyadi acknowledged complaints from beneficiaries of the earlier phases regarding unpaid stipends and delayed resettlement support.

He attributed the setbacks to funding constraints and assured participants that the ministry was working with relevant authorities to secure the release of funds needed to settle all outstanding obligations.

“I wish to assure all affected beneficiaries that this Ministry is fully aware of the matter and is working with the relevant authorities to ensure the release of the necessary funds so that all outstanding obligations can be met without further delay,” he said.

Director-General of the National Directorate of Employment (NDE), Silas Agara, said the upgraded registration portal includes new security and verification features to improve transparency and efficiency.

Applicants will be required to verify their identities using their National Identification Number (NIN), while the system will automatically prevent multiple registrations and assign applicants to training centres closest to their locations.

Agara added that persons living with disabilities would be identified during registration and matched with skills programmes suited to their needs.

Business

UK Lists 10 Requirements Nigerians Need To Secure Work Visa

Published

2 days ago

July 25, 2026

The Daily Voice

The UK Home Office has set out detailed requirements that foreign nationals, including Nigerians, must satisfy before they can qualify for a Skilled Worker visa.

The requirements, published on the UK government’s official website, apply to overseas professionals seeking to work in eligible jobs with approved employers across the United Kingdom.

According to the Home Office, applicants must meet employment, salary, language and documentation requirements before a visa can be granted. Additional evidence may also be requested depending on an applicant’s circumstances.

1. Have a job offer from an approved employer: Applicants must first secure a job offer from a UK employer licensed by the Home Office to sponsor foreign workers.

The employer must issue a Certificate of Sponsorship (CoS), which contains details of the job being offered.

2. Work in an eligible occupation: The job must appear on the UK’s list of eligible occupations for the Skilled Worker visa. Applicants must know the correct occupation code assigned to their role before applying.

3. Meet the minimum salary requirement: Most applicants must earn at least £41,700 per year or the “going rate” for their occupation, whichever is higher.

Most applicants must earn at least £41,700 per year or the “going rate” for their occupation, whichever is higher. Lower salary thresholds may apply for some healthcare workers, graduates, younger applicants and certain PhD holders.

4. Prove English language ability: Applicants must show they can speak, read, write and understand English. This can be done through approved English language tests or recognised educational qualifications taught in English.

5. Hold a valid passport: Applicants must provide a valid passport or another accepted document proving their identity and nationality as part of the visa application.

6. Show proof of financial support: Most applicants must demonstrate they have at least £1,270 available to support themselves after arriving in the UK unless their employer confirms it will cover those costs.

7. Pay visa fees and healthcare surcharge: Applicants must pay the visa application fee, the Immigration Health Surcharge for each year of their stay, and meet any other required charges before their application can be processed.

Partners and children of Skilled Worker visa holders may apply as dependants. Supporting a partner requires showing at least £285 in available funds, £315 for one child, and £200 for each additional child

8. Submit supporting documents: Applicants must provide supporting documents, including their Certificate of Sponsorship reference number, salary details, occupation code and employer information. Depending on individual circumstances, additional documents may also be required.

9. Provide extra certificates where required: Some applicants may need to submit additional documents such as tuberculosis (TB) test results, criminal record certificates, Academic Technology Approval Scheme (ATAS) certificates or proof of overseas qualifications.

10. Apply within the required timeframe: Applicants must submit their Skilled Worker visa application within three months of receiving their Certificate of Sponsorship from their employer.

The Home Office also advises applicants to complete identity verification and provide all required documents before a decision can be made.

Additional documents may be requested

The UK government stressed that meeting the eligibility requirements does not automatically guarantee visa approval. Immigration officials may request further documents or information to verify an applicant’s eligibility before making a final decision.

For Nigerians and other foreign professionals hoping to work in the UK, understanding these 10 requirements can help them prepare a stronger Skilled Worker visa application.

Full breakdown of the rules can be downloaded here.