NNPCL appoints new EVPs, CFO
The Nigerian National Petroleum Company Limited has announced a reshuffling in key management positions to strengthen its operational efficiency and boost its competitive edge in the global oil and gas industry.
A statement signed by the NNPCL spokesperson, Femi Soneye, on Wednesday, revealed that the board of directors had approved the replacement of Mr Umar Ajiya and Mrs Oritsemeyiwa Eyesan as the Chief Financial Officer and Executive Vice President, Upstream, respectively.
The company did not state the reasons for their disengagement.
In their stead, the directors approved the appointment of Mr. Adedapo Segun as the Chief Financial Officer.
Until his appointment, Segun was the company’s Executive Vice President, Downstream. He takes over from Mr Ajiya.
Mr Isiyaku Abdullahi was appointed the Executive Vice President, Downstream, taking over from Adedapo Segun, who was appointed CFO.
Mr Udobong Ntia was appointed Executive Vice President, Upstream, replacing Oritsemeyiwa Eyesan.
The move aligns with the provisions of the Petroleum Industry Act and the NNPC Ltd’s commitment to strengthening corporate governance and operational efficiency within the national oil company.
It is also in line with the NNPC Ltd management’s commitment to ensure that the company continues to succeed in driving Nigeria’s energy sector.
The statement read, “The Board of Directors of NNPC Limited is pleased to announce a series of strategic leadership appointments. These changes reflect our continued dedication to enhancing corporate governance, improving operational efficiency, and ensuring long-term success in Nigeria’s energy sector.
“The following key appointments have been made: Mr Adedapo Segun has been appointed as the Chief Financial Officer. Mr Segun previously served as the Executive Vice President, Downstream, where he made significant contributions to the company’s downstream operations.
“Mr Isiyaku Abdullahi has been named Executive Vice President, Downstream. Mr Udobong Ntia has been appointed Executive Vice President, Upstream.”
Soneye added that these appointments align with NNPC Limited’s commitment to building a unified and competent leadership team to drive operational excellence and support the organisation’s strategic objectives.
“The board and management also extend their deepest appreciation to Mr Umar Ajiya and Mrs Oritsemeyiwa Eyesan for their outstanding dedication and service to NNPC Limited.
“NNPC Limited remains committed to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability while prioritizing the interests of the Nigerian public in the petroleum industry,” the statement concluded.
Further checks by our correspondent showed that the new Chief Financial Officer joined NNPC Limited as Treasurer in April 2016 and enthusiastically drove a series of optimisation initiatives culminating in ISO 9001:2015 certification of Group Treasury Quality Management Systems, the very first in the Finance & Accounts function.
In October 2022, following the transition to NNPC Limited, Segun became the pioneer Chief Finance and Investor Relations Officer where he was charged with the responsibility of raising medium and long-term financing for NNPC Limited and its wholly owned subsidiaries, as well as overseeing Investor Relations activities, including the company’s journey towards its Initial Public Offer.
Similarly, the Executive Vice President of Downstream is a seasoned executive with over 30 years of experience in the oil and gas industry, known for his commitment to transparency, accountability, and performance excellence.
He has held various leadership positions, including Group Treasurer of NNPC Ltd, Managing Director of PPMC, and Group General Manager of Accounts/Financial Controller at the NNPC HQ and General Manager of Finance at the NNPC Pension Ltd., demonstrating his versatility and dedication to driving growth and prosperity in the industry.
While the Executive Vice President of Upstream until he was appointed the Executive Vice President of Upstream at MNPC Ltd, Ntia was a past Executive Director at ExxonMobil.
He is an experienced Project Executive with a demonstrated history of working in the oil & energy industry.
He is also skilled in petroleum and gas, and he is a strong business development professional with an MBA focused in Business Administration and Management, from the University of Houston.
Recently, aggrieved Nigerians demanded the immediate resignation of the Group Chief Executive Officer of the company, Mele Kyari.
The protesters, led by some Civil Society Organisations, described Kyari’s leadership as incompetent, citing skyrocketing fuel prices, endless fuel queues, and economic hardship in Nigeria.
The protesters carrying placards with different inscriptions such as “we demand the immediate resignation of Kyari”, among others, said the leadership of the NNPCL boss has failed.
However, the NNPCL spokesperson said the protestors lack understanding of the sector.
He explained that contrary to their agitation, the GCEO ensured Nigerians had access to fuel at N620 per litre for over a year, even when the landing cost was above N1,100.
