A major shake-up has occurred at the Nigerian National Petroleum Company Limited (NNPCL) which has led to the compulsory retirement of three Executive Vice Presidents and their replacements announced.
They are Abdulkabir Ahmed (Gas, Power and New Energies), Engr Adokiye Tombomieye (Upstream) and Adeyemi Adetunji (Downstream). The trio has been replaced with Olalekan Ogunleye (EVP Gas, Power and New Energies), who takes over from Ahmed who had served the company in various capacities before his retirement.
Oritsemeyiwa Eyesan, who until his new appointment was the Chief Strategy and Sustainability Officer, is now in charge of Upstream while Adedapo Segun is the Executive Vice-President, Downstream.
The appointments were announced in a statement signed by the company’s Chief Corporate Communications Officer, Garba Deen Muhammad and made available to the public via NNPCL’s official handle on X (formerly Twitter).
The statement reads: “In line with NNPC Ltd.’s commitment and drive for organizational renewal, anchored on our business imperatives, standards of excellence, people development, and strengthening our competencies and capabilities through broad-based leadership exposures, the company wishes to announce the following executive appointments with immediate effect: Oritsemeyiwa A. Eyesan, Executive Vice President, Upstream; Olalekan Ogunleye, Executive Vice President, Gas, Power, and New Energy Adedapo A. Segun, Executive Vice President, Downstream.”
On September 21, 2021, the Corporate Affairs Commission (CAC) had completed the incorporation of the NNPC Ltd in line with the provisions of the Petroleum Industry Act 2021.
Former President Muhammadu Buhari had on August 16, 2021, signed the Petroleum Industry Bill following its passage by the National Assembly in July 2021.
Following its incorporation, NNPCL was floated with an initial capital of N200 billion, the highest share capital by any government company in the country.