CBN Governor Cardoso Pa
-The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, on Monday paid a courtesy visit to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mr Bayo Ojulari, at the NNPC Towers in Abuja.
The visit, described by the NNPC as “a moment of significant alignment and shared purpose,” focused on strengthening collaboration between the two institutions in pursuit of national economic stabilisation.
In a statement posted on its official X handle shortly after the meeting, NNPC Ltd said the dialogue “moved beyond mere discussion into a strategic confluence of vision, centred on the vital national imperative of economic stabilisation through deliberate partnership.”
The company reiterated its belief that sustainable progress in Nigeria’s energy sector and broader economy can only be achieved through collaboration.
“NNPC Limited operates on the firm conviction that true progress is collaborative. We are dedicated to forging synergies that enhance operational efficiency across every critical facet of our enterprise, understanding that our collective strength fuels national advancement,” the statement read.
You would recall that the NNPCL under the leadership of Ojulari has witnessed a tremendous growth and transparency as the company declared N5.4t rillion profit after tax for the year 2024.
Besides, Ojulari revealed revenue rose to N45.1 trillion from the N23.9trillion recorded in 2023.
In the 2024 report, while dividends were N4.3 trillion, earnings per share was N27.07.
Neither the CBN nor NNPC Ltd disclosed specific outcomes or agreements from the closed-door meeting. However, sources familiar with the discussions indicated that both leaders explored areas of mutual interest, including liquidity management in the oil and gas sector, foreign exchange reforms, and measures to boost investor confidence in the Nigerian economy.
The courtesy call comes amid ongoing efforts by the federal government to align fiscal and monetary policies in addressing persistent macroeconomic challenges, including inflation, currency volatility, and dwindling foreign reserves.
Mr Cardoso assumed office as CBN Governor in September 2023, while Mr Ojulari was appointed GCEO of the newly commercialised NNPC Ltd in April 2025.
