NNPC Restructures Firm, Appoints Five Vice Presidents

The Nigerian National Petroleum Company Limited (NNPC) has appointed five vice presidents to push the performance of the oil firm.

Sources from the firm told Punch that five individuals including executive directors who were at the oil company had been named vice presidents in Abuja on Thursday night.

The source explained that the appointment was in line with provisions of the Petroleum Industry Act that was passed into law in August 2021 by the President, Major General Muhammadu Buhari (retd.).

After the PIA was passed, the NNPC in September completed its incorporation as a limited liability company under the Companies and Allied Matters Act and was floated with an initial capital of N200bn.

A senior official at the oil firm said, “It is true that we now have executive vice presidents in place of executive directors. It is a form of restructuring to further enhance our delivery and performance”

The source revealed that the Group Executive Director, of Upstream, Adokiye Tombomieye, had assumed the position of Executive Vice President of Upstream while the Group Executive Director of Downstream, Adeyemi Adetunji, was named Executive Vice President of Downstream.

The source also disclosed that the company named Inuwa Danladi as its Executive Vice President, Business Services, while Oritsemeyiwa Eyesan had assumed duty as Executive Vice President, Corporate Strategy and Sustainability

Sharing more information, the source said that the Executive Director of Gas and Power, Abdulkabir Ahmed, was appointed Executive Vice President of Gas, Power and New Energies.

Based on the PIA, Section 53(1), the Minister of Petroleum Resources would ensure the incorporation of the NNPC Limited within six months of the enactment of the Act in consultation with the Minister of Finance on the nominal shares of the Company.