The Nigerian National Petroleum Company (NNPC) Limited has appointed five executive vice presidents as part of moves to further align its operations with global best practice.
The appointment is part of the progress being made in the ongoing reforms of the NNPC Ltd as well as enable 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, Gas and Power, Abdulkabir Ahmed will now become the Executive Vice President, Gas, Power and New Energies, while Inuwa Danladi has been named the Executive Vice President, 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 practice while taking the shape of an international oil company.
Through the appointments, the NNPC would also be promoting inclusion of women into business leadership and shrink 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 in accordance with 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, the 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.