NNPC announces strategic leadership reshuffle to drive operational efficiency

NNPC announces leadership reshuffle to enhance operational efficiency, appointing key executives to drive Nigeria’s energy sector forward.

In a significant move to boost its operational efficiency and competitiveness, the Nigerian National Petroleum Company Limited (NNPC Ltd) has announced key leadership changes.

This restructuring, aimed at strengthening the company’s position in the global oil and gas industry, was approved by the NNPC Ltd board of directors and disclosed on Wednesday through a statement by Femi Soneye, the company’s spokesperson.

Also read: NNPC ceases fuel imports, off-takes from Dangote Refinery amid ongoing energy and economic challenges

The reshuffle sees the replacement of Mr Umar Ajiya and Mrs Oritsemeyiwa Eyesan, formerly the Chief Financial Officer and Executive Vice President, Upstream, respectively.

They have been succeeded by Mr Adedapo Segun as Chief Financial Officer and Mr Udobong Ntia as Executive Vice President, Upstream. Additionally, Mr Isiyaku Abdullahi has been appointed Executive Vice President, Downstream, taking over from Segun.

Although the reasons for Ajiya and Eyesan’s disengagement were not provided, NNPC Ltd extended its appreciation for their dedication and service.

“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, emphasising NNPC Ltd’s alignment with the goals of the Petroleum Industry Act.

New Leadership Profiles

The newly appointed CFO, Adedapo Segun, has been with NNPC Ltd since 2016, initially serving as Treasurer where he led initiatives to achieve ISO 9001:2015 certification for the Group Treasury Quality Management Systems.

In 2022, he became the company’s first Chief Finance and Investor Relations Officer, charged with securing medium- and long-term financing for NNPC Ltd and overseeing investor relations activities as the company prepared for its Initial Public Offering (IPO).

Isiyaku Abdullahi, the new Executive Vice President of Downstream, brings over 30 years of oil and gas experience.

Known for his focus on transparency and accountability, Abdullahi has held senior roles including Group Treasurer, Managing Director of PPMC, and General Manager of Finance at NNPC Pension Ltd, displaying a strong track record in corporate finance and operational leadership.

The newly appointed Executive Vice President of Upstream, Udobong Ntia, brings experience from a leadership role at ExxonMobil, where he was an Executive Director. Ntia is skilled in petroleum and gas development and holds an MBA in Business Administration from the University of Houston, positioning him well to advance NNPC Ltd’s upstream operations.

PC’s Commitment to Operational Excellence Amid Public Scrutiny

NNPC Ltd’s recent restructuring occurs amid public scrutiny of its leadership. Civil society groups have called for the resignation of Group Chief Executive Officer Mele Kyari, citing issues like soaring fuel prices and ongoing fuel shortages.

The protests, which saw demonstrators carrying signs demanding Kyari’s resignation, claimed the current administration has failed to address economic hardships facing Nigerians.

Responding to the protests, NNPC Ltd’s spokesperson stated that the grievances reflect a misunderstanding of the complex dynamics within the energy sector.

He highlighted that under Kyari’s leadership, NNPC Ltd ensured fuel availability at N620 per litre over the past year, despite higher landing costs.

The leadership changes underscore NNPC Ltd’s commitment to reinforcing governance structures and enhancing operational excellence.

The company aims to sustain progress in Nigeria’s energy sector while addressing the challenges of transitioning from a national oil company to a globally competitive energy corporation.

With a unified leadership team and a focus on operational efficiency, NNPC Ltd remains focused on its strategic objectives, including financial sustainability and prioritising public interest in Nigeria’s petroleum industry.