- NNPC announces the appointment of Mr. Adedapo Segun as Chief Financial Officer (CFO), Mr. Udobong Ntia as Executive Vice President (EVP), Upstream, and Mr. Isiyaku Abdullahi as EVP, Downstream
- The reshuffle is part of NNPC's ongoing strategy to strengthen governance and improve its competitiveness in the global energy market
- The leadership changes come without specific explanations for the departures of previous executives but are seen as a move to bolster NNPC’s operational capabilities
Nigeria's state-owned oil company, Nigerian National Petroleum Company Limited, has executed a major leadership reshuffle at the top levels of its management, appointing new executives to key positions in a move that signals its continued focus on operational efficiency and corporate governance.
In a statement released on Wednesday, November 13, NNPC confirmed the appointment of Mr. Adedapo Segun as the new Chief Financial Officer (CFO), alongside the elevation of Mr. Udobong Ntia as the Executive Vice President (EVP), Upstream. Additionally, Mr. Isiyaku Abdullahi has been named the new EVP, Downstream.
These changes are believed to be part of NNPC's ongoing strategy to strengthen its leadership team, enhance governance, and maintain competitiveness in the global energy sector.
Adedapo Segun, who previously held the role of EVP, Downstream, steps into the role of CFO, replacing Mr. Umar Ajiya. Ntia, who has been appointed EVP, Upstream, takes over from Mrs. Oritsemeyiwa Eyesan. However, NNPC did not provide specific reasons for the departures of Ajiya and Eyesan.
The statement from NNPC's Chief Corporate Communications Officer, Mr. Olufemi Soneye, disclosed that these strategic leadership changes are aimed at improving the company’s operational efficiency and supporting its long-term objectives within Nigeria’s energy sector.
“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 statement read.
Mr. Segun, the newly appointed CFO, previously made significant contributions during his tenure as EVP, Downstream, where he was responsible for overseeing NNPC's downstream operations, including refining, distribution, and retail activities.
Mr. Abdullahi, the new EVP, Downstream, will now take on the mantle of overseeing these critical sectors within NNPC. Meanwhile, Mr. Ntia’s appointment as EVP, Upstream, places him in charge of the company’s exploration and production activities, a key area as NNPC works to boost Nigeria’s oil output and manage its reserves effectively.
NNPC to settle $6bn debt on petrol supplies, says Finance Minister Wale Edun
Meanwhile, TheRadar earlier reported that Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, announced that the Nigerian National Petroleum Company (NNPC) Limited is set to begin settling its $6 billion debt to suppliers.
This announcement was made during a meeting with investors in Washington, DC, on Wednesday, October 23.
