NNPC Makes Major Management Changes, Drops Ajiya, Eyesan, Redeploys Segun to Finance

*National oil company set to supply 100mmscf/d gas to Dangote refinery 

*Says 10-year deal to boost local production, revamp industrial growth

Emmanuel Addeh in Abuja

The Board of Directors of the Nigerian National Petroleum Company Limited (NNPC) yesterday announced major changes to the management of the national oil company, redeploying Mr. Adedapo Segun as the Chief Financial Officer (CFO) and appointing Udobong Ntia as Executive Vice President (EVP), Upstream.

THISDAY reports that while Umar Ajiya was CFO before now, Oritsemeyiwa Eyesan was in charge of the upstream operations, while Segun manned the downstream activities of the NNPC.

The statement last night, signed by the Chief Corporate Communications Officer, Olufemi Soneye, was however silent on the fate of the erstwhile top NNPC officials.

“The NNPC is pleased to announce a series of strategic leadership appointments. These changes reflect our continued dedication to enhancing corporate governance, improving operational efficiency, and ensuring long-term success in Nigeria’s energy sector.

“The following key appointments have been made:  Mr. Adedapo Segun has been appointed as the Chief Financial Officer (CFO). Mr. Segun previously served as the Executive Vice President, Downstream, where he made significant contributions to the company’s downstream operations,” the statement said.

It also named Mr. Isiyaku Abdullahi as the Executive Vice President, Downstream.

“Mr. Udobong Ntia has been appointed EVP, Upstream. These appointments align with NNPC’s commitment to building a unified and competent leadership team to drive operational excellence and support the organisation’s strategic objectives.

“The board and management also extend their deepest appreciation to Mr. Umar Ajiya and Mrs. Oritsemeyiwa  Eyesan for their outstanding dedication and service to NNPC Limited,” the national oil company said.

NNPC  stated that it remains committed to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability, while prioritising the interests of the Nigerian public in the petroleum industry.

Meanwhile, NNPC Gas Marketing Limited (NGML), a subsidiary of the company, has successfully executed a Gas Sale and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals FZE.

The agreement, signed by the Managing Director, NGML, Justin Ezeala and the President/CEO of the Dangote Group, Aliko Dangote at the Corporate Head Office of Dangote in Falomo, Lagos State, NNPC said, outlines the supply of natural gas for power generation and feedstock at the Dangote Refinery, in Ibeju-Lekki, Lagos State.

“This major milestone is in line with President Bola Ahmed Tinubu’s policy of utilising Nigeria’s abundant gas resources towards revamping the nation’s industrial growth and kick-starting its economic prosperity.

“This development, which sees a huge investment of this nature penned with zero capital expenditure (CAPEX) outlay, has been described by many as unprecedented in the history of NGML or any gas Local Distribution Company (LDC) in the country,” the NNPC statement noted

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Under the terms of the agreement, NGML will supply 100 million standard cubic feet per day (mmscf/d), 50mmscf/d being firm supply and the rest 50mmscf/d interruptible natural gas supply to the refinery for an initial period of 10 years, with options for renewal and growth.
The collaboration is a significant step toward ensuring the operational success of the Dangote refinery and enhancing Nigeria’s domestic gas utilisation, NNPC said.

NNPC, through NGML, its gas marketing subsidiary, said it continues to lead efforts in promoting the use of domestic gas to support industries and businesses nationwide.

The agreement, according to the national oil company, represents a milestone for both NNPC  and Dangote refinery, aligning with their shared commitment to boosting local production and providing vital products for the benefit of all Nigerians.

“It is also a further proof of NGML’s unwavering commitment to business excellence and fulfilling NNPC’s core mandate of ensuring Nigeria’s energy security through the execution of strategic gas projects across the country,” the statement added.