The Nigerian National Petroleum Company Limited (NNPCL) has made some important changes in its management team in order to improve how it runs its operations and to become more competitive globally in the oil and gas industry.
On Wednesday, a representative for NNPCL, Femi Soneye, announced through a statement that the company’s board of directors has decided to replace two key officials: Mr. Umar Ajiya, who served as the Chief Financial Officer, and Mrs. Oritsemeyiwa Eyesan, who was the Executive Vice President for Upstream operations. However, the company did not provide specific reasons for their removal.
Taking over as Chief Financial Officer will be Mr. Adedapo Segun, who previously held the position of Executive Vice President for Downstream operations. In his new role as CFO, Segun will be responsible for overseeing the company’s financial strategies and health.
With Segun stepping up as CFO, Mr. Isiyaku Abdullahi has been appointed to take over his previous role as Executive Vice President for Downstream operations. Additionally, Mr. Udobong Ntia has been named the Executive Vice President for Upstream operations, replacing Eyesan.
These changes are part of NNPCL’s efforts to adhere to the guidelines set by the Petroleum Industry Act, which is aimed at improving corporate governance and operational efficiency within Nigeria’s national oil company. The management is focused on ensuring that the company remains successful and plays a key role in Nigeria’s energy sector.
In the statement, the board expressed its commitment to building a strong leadership team that aims to enhance corporate governance and improve how the company operates. They also mentioned their gratitude toward Mr. Ajiya and Mrs. Eyesan for their dedication and contributions during their time with the company.
NNPCL remains focused on achieving high standards in its operations while also ensuring that it can compete effectively in the global market and maintain financial stability—all while keeping the needs of the Nigerian public at the forefront.
In the background, additional information was shared about the new Chief Financial Officer, Mr. Adedapo Segun. He began his career with NNPCL as a Treasurer in April 2016 and has played a vital role in several important initiatives, including achieving a significant quality management certification for the finance department. After the company transitioned into NNPCL Limited in October 2022, he became the first Chief Finance and Investor Relations Officer, handling funding-matters and public relations efforts for the company as it prepares for its listing on the stock exchange.
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Similarly, the new Executive Vice President for Downstream, Mr. Isiyaku Abdullahi, is a seasoned professional with over 30 years of experience in the oil and gas industry, bringing a wealth of knowledge about transparency and performance improvement from various leadership roles he held in the company.
Furthermore, Mr. Udobong Ntia, who is now Executive Vice President for Upstream, has held significant roles in organizations like ExxonMobil, contributing his expertise in oil and energy projects.
At the same time, there has been public dissatisfaction regarding the leadership of NNPCL, particularly targeting its Group Chief Executive Officer, Mele Kyari. Some civic organizations have accused Kyari of failing to address major issues such as rising fuel prices, long fuel lines, and economic struggles in Nigeria, leading them to demand his resignation. However, a spokesperson from NNPCL defended Kyari, emphasizing that he has worked hard to keep fuel prices accessible to Nigerians despite fluctuations in the market.
