“On Sunday, the Nigerian National Petroleum Company Limited (NNPCL) announced the appointment of three new Executive Vice Presidents. Oritsemeyiwa Eyesan was appointed as the new Executive Vice President for Upstream, Olalekan Ogunleye as the Executive Vice President for Gas, Power, and New Energy, and Adedapo Segun as the Executive Vice President for Downstream.
The company made this announcement via its official social media handle on Sunday, and these appointments took immediate effect. The statement released by NNPCL highlighted their commitment to organizational renewal, excellence, people development, and strengthening competencies through diverse leadership experiences.
As a result of these new appointments, three former Executive Vice Presidents were compulsorily retired. They included Abdulkabir Ahmed, who served in Gas, Power, and New Energies; Adokiye Tombomieye in the Upstream sector; and Adeyemi Adetunji in the Downstream sector.
In July of the previous year, the national oil firm, previously known as the Nigerian National Petroleum Corporation (NNPC), transitioned fully into a commercial entity, becoming the Nigerian National Petroleum Company Limited. This transition meant that the company is now regulated according to the provisions of the Companies and Allied Matters Act.
Additionally, the Group Chief Finance Officer of the company has taken on additional responsibilities, including ensuring the group’s liquidity and efficiently allocating capital to its various businesses based on returns and business relations.”
Also, the Federal Government is to halt all forms of funding for projects and sundry purposes of the firm, compared to what was obtainable in 45 years of the NNPC before it transitioned to a limited liability company.
The oil company has since been operating as a limited company, run by a chief executive officer and his executive vice presidents.
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