… as Board drops appoints Eyesan, confirms Ntia as new Executive Vice President Upstream

… Abdullahi steps in as NNPC’s Downstream EVP

Oredola Adeola

The Board of Directors of Nigerian National Petroleum Company Ltd (NNPC) has appointed Adedapo Segun- former Executive Vice President (EVP) for the Downstream – as Chief Financial Officer (CFO), succeeding Umar Ajiya.

The board also announced the appointments of Isiyaku Abdullahi as EVP, Downstream, and Udobong Ntia as EVP, Upstream, in a strategic leadership restructure to strengthen governance and operational efficiency within Nigeria’s energy sector.

The announcements were confirmed by Olufemi Soneye, NNPC’s Chief Corporate Communications Officer, in a statement obtained by Advisors Reports on Wednesday.

According to Soneye, these changes reflect the national oil company’s commitment to corporate governance, operational excellence, and its long-term strategic objectives.

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

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

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

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

Advisors Reports’ check showed that Adedapo Segun, newly appointed CFO of NNPC Ltd, brings extensive experience in financial management and strategic financing.

Joining NNPC in 2016 as Treasurer, he led significant optimization efforts, achieving ISO 9001:2015 certification for the Group Treasury’s Quality Management Systems.

In 2022, following NNPC’s transition to a limited liability entity, 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).

Over his career, he has raised substantial funds for the company and built a solid foundation for its future as a publicly listed entity.

Segun is a Fellow of the Institute of Chartered Accountants of Nigeria, with over three decades of experience in the finance and oil and gas sectors across Nigeria and the U.S.

Isiyaku Abdullahi, appointed Executive Vice President (EVP)

Isiyaku Abdullahi, appointed Executive Vice President (EVP) for NNPC’s Downstream division, has over 30 years of experience in the oil and gas sector and has held several pivotal roles, including Managing Director of PPMC and Group General Manager of Accounts.

Known for his transparency and commitment to excellence, Abdullahi has driven notable achievements in financial performance and governance, including boosting PPMC’s profitability and overseeing NNPC’s first audited financial statement in 44 years.

His leadership has delivered significant cost savings to the federation and is expected to drive further growth and resilience in Nigeria’s downstream operations.

Udobong Ntia, now EVP of NNPC Ltd’s Upstream division

Udobong Ntia, now serving as Executive Vice President (EVP) of NNPC Ltd’s Upstream division, has an extensive background in oil and gas, notably as a former Executive Director at ExxonMobil.

With an MBA from the University of Houston, he has expertise in petroleum operations, business development, and strategic project management.

His past roles include General Manager of External Relations and Business Development at ExxonMobil, where he managed venture relations, government affairs, and gas and power marketing.

In his earlier career, Ntia was an Area Operations Manager, responsible for asset management and safe operation of large offshore production facilities.

He managed substantial reserves, a $200 million annual budget, and oversaw the production of 150,000 barrels of crude oil per day, showcasing his skill in leading complex projects within challenging regulatory environments.