NNPC Board Of Directors Make Strategic Key Appointments

The Board of Directors of the Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of Mr. Adedapo Segun, who was Executive Vice President (EVP) for the Downstream as the Chief Financial Officer (CFO) of the company. He succeeds Mr Umar Ajiya.

Similarly, in a strategic leadership restructure aimed at strengthening governance and operational efficiency in the nation’s energy sector, the NNPC Ltd Board also announced the appointments of Isiyaku Abdullahi as EVP, Downstream, and Udobong Ntia as EVP, Upstream.

These were contained in a statement on Wednesday, November 13, 2024 by Mr Olufemi Soneye, NNPC’s Chief Corporate Communications Officer, who said that the changes reflected the national oil company’s commitment to corporate governance, operational excellence, and its long-term strategic objectives.

Soneye said that Abdullahi will take on the Downstream EVP role, replacing Segun, who has assumed his new position as CFO.

He explained that the appointments aligned with NNPC Limited’s commitment to building a unified and capable leadership team focused on operational success and strategic objectives.

The board and management extended appreciation to Umar Ajiya and Oritsemeyiwa  Eyesan for their dedicated service to NNPC.

The NNPC Ltd reiterated its commitment to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability while prioritizing the interests of Nigerians in the petroleum sector.

Mr. Adedapo Segun, newly appointed CFO of NNPC Ltd, brings extensive experience in financial management and strategic financing having joined the NNPC in 2016 as Treasurer. He led a significant optimization effort to achieve ISO 9001:2015 certification for the Group Treasury’s Quality Management Systems.

Following NNPC’s transition to a limited liability entity in 2022, Segun became the pioneer Chief Finance and Investor Relations Officer, responsible for medium- and long-term financing initiatives and investor relations, laying the groundwork for NNPC’s anticipated Initial Public Offering (IPO).

The new CFO has raised substantial funds for the company and built a solid foundation for its future as a publicly listed entity.