In a bid to further align its operations with global best practices, as well as reap the numerous benefits of the implementation of the Petroleum Industry Act, the Nigerian National Petroleum Company Ltd has appointed five Executive Vice Presidents, THE WHISTLER can authoritatively report.
The appointment is part of the progress being made in the ongoing reforms of the NNPC Ltd as well as enabling the National Oil Company further position itself to be able to effectively compete globally.
Based on the new structure, the Group Executive Director, Upstream, Adokiye Tombomieye has been named the Executive Vice President (Upstream); while the Group Executive Director, Downstream, Engr. Adeyemi Adetunji will now take the role of Executive Vice President (Downstream).
Also, the Executive Director, of Gas and Power, Abdulkabir Ahmed will now become the Executive Vice President, of Gas, Power, and New Energies, while Inuwa Danladi has been named the Executive Vice President, of Business Services.
It also named Mrs. Oritsemeyiwa Eyesan as the Executive Vice President, Corporate Strategy and Sustainability; while Chidi Momah becomes the General Counsel for the National Oil Company.
It was gathered that the new appointments will enable the NNPC to establish continuity of leadership in critical business areas; uplift younger people to positions of authority and remove weak leaders from critical roles.
Findings further revealed that the move was critical as it will assist the NNPC in recruiting expatriates and enable the company to benefit from international best practices while taking the shape of an international oil company.
Through the appointments, the NNPC would also be promoting the inclusion of women into business leadership and shrinking the organization to nimble size and effectiveness.
The NNPC’s transformation into a CAMA company follows the implementation of the Petroleum Industry Act.
The Corporate Affairs Commission had on September 21 last year completed the incorporation of the NNPC Ltd by the provisions of the Petroleum Industry Act 2021.
The PIA was signed into law by President Muhammadu Buhari on 16th August 2021, following its passage by the National Assembly in July of the same year.
Specifically, Section 53(1) of the Petroleum Industry Act 2021, requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of the enactment of the PIA in consultation with the Minister of Finance on the nominal shares of the Company.
With the registration by the CAC, NNPC Ltd was floated with an initial capital of N200bn making history as the company with the highest share capital in the country.
Between when the PIA was signed into law in August last year and now, the management of the NNPC has taken proactive steps to transform it in line with global best practices.
