posted September 17, 2023
There has been a report on a major management shake-up at the Nigerian National Petroleum Company Limited (NNPCL), resulting in the compulsory retirement of three Executive Vice Presidents (EVPs) and the appointment of their replacements.
Three EVPs of NNPCL have been compulsorily retired, even though they were originally due to retire in 2024. The affected EVPs are:
Abdulkabir Ahmed (Gas, Power and New Energies), Engr. Adokiye Tombomieye (Upstream) and Adeyemi Adetunji (Downstream).
The following individuals have been named as replacements for the retired EVPs:
Olalekan Ogunleye is the new EVP for Gas, Power, and New Energies, taking over from Abdulkabir Ahmed.
Oritsemeyiwa Eyesan, formerly the Chief Strategy and Sustainability Officer, is now in charge of Upstream.
Adedapo Segun has been appointed as the Executive Vice-President for Downstream.
The latest shake-ups are part of ongoing reforms at NNPC Ltd aimed at repositioning the company for global competitiveness.
It would be recalled that the Corporate Affairs Commission completed the incorporation of NNPC Ltd on September 21, 2021, in accordance with the provisions of the Petroleum Industry Act 2021. This act was signed by former President Muhammadu Buhari on August 16, 2021, following its passage by the National Assembly in July 2021.
The incorporation involved providing NNPC Ltd with an initial capital of N200 billion, making it one of the government companies with the highest share capital in the country.
These changes in leadership and the ongoing reforms reflect the evolving landscape of the Nigerian petroleum industry and the government’s efforts to modernize and enhance the competitiveness of NNPC Ltd.