… appointment to take effect February 3, 2025

Oredola Adeola

Eterna Plc, an integrated energy company, has announced the appointment of Mr. Olumide Adeosun as its new Managing Director/CEO, succeeding Mr. Abiola Lawal, whose resignation will take effect on January 31, 2025.

The Board of Directors of Eterna Plc confirmed Mr. Olumide Adeosun’s appointment in a statement released by the Company’s Secretary/Legal Adviser, David Edet, and obtained by Advisors Reports on Thursday.

According to a statement, the appointment will take effect on February 3, 2025.

The Board in the statement also commended the outgoing MD/CEO, Mr. Abiola Lawal, whose resignation from the company, becomes effective January 31, 2025, for his significant contributions and exemplary leadership during his tenure.

The Board also congratulated Mr. Adeosun on his new position and wishes him great success.

Advisors Reports gathered that prior to Adeosun’s appointment as MD/CEO of Eterna Plc, he had served as Group Executive Director of Rainoil Limited and as a Non-Executive Director of Eterna Industries Limited.

Adeosun, it would be recalled, was the immediate past Chairman of the Major Energy Marketers Association of Nigeria (MEMAN) and a passionate advocate for clean energy, serving on the advisory boards of renewable energy firms and consultancies.

Mr. Olumide Adeosun is a finance and energy expert with over 25 years of experience in the sectors.

Highlighting his career and achievements, the statement read, “Mr. Adeosun began his career as a Business Analyst under the PricewaterhouseCoopers (PwC) UK graduate program in London.

“He subsequently transitioned to BP Plc, where he held various senior roles in upstream finance, business support, and commercial operations.

“In BP’s Strategic Origination team, he played a pivotal role in developing BP’s Africa trading strategy, culminating in the establishment of BP Global West Africa Ltd in Nigeria.

“As Vice President, Commercial Development, he spearheaded initiatives that achieved a 300% growth in revenue within three years.

“In 2015, Mr. Adeosun joined PwC’s West Africa Energy Advisory team in Lagos, leading transactions that raised over $1.5 billion in infrastructure and energy investments.

“Among his achievements was overseeing the acquisition of a leading multinational midstream and downstream company.

“In 2019, he was appointed CEO of Ardova Plc, where he executed a five-year transformation strategy with a focus on LPG and renewable energy.

“He also led the successful bid for a majority stake in the Olua Field on OML 25, establishing a joint venture with other shareholders in record time.

“He is a Member of the Financial Reporting Council of Nigeria, a Fellow of the Chartered Institute of Directors, and a Member of the Society for Petroleum Engineers (SPE).

“He holds a Bachelor of Architecture degree from Woodbury University, California, and an MSc in Mathematics from Royal Holloway, University of London,” the Company’s Secretary/Legal Adviser said in the statement.