October 21, (THEWILL) – As part of the ongoing reforms, aimed at repositioning it to effectively compete globally, the Nigerian National Petroleum Company Ltd (NNPCL), has appointed five Executive Vice-Presidents.
The appointments are also part of efforts to consolidate its post-commercialisation drives.
In the latest appointments, the Group Executive Director, Upstream, Adokiye Tombomieye, has been named the Executive Vice-President (Upstream), while the Group Executive Director, Downstream, Engr. Adeyemi Adetunji, is the Executive Vice-President (Downstream).
Also, the Executive Director, Gas and Power, Abdulkabir Ahmed, now takes charge as the Executive Vice-President (Gas, Power and New Energies), while Inuwa Danladi, was 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 oil company.
THEWILL recalls that NNPC had transformed into a CAMA company, following the implementation of the Petroleum Industry Act.
On September 21, 2021, the Corporate Affairs Commission (CAC), completed the incorporation of the NNPC Ltd in accordance with the provisions of the Petroleum Industry Act 2021.
President Muhammadu Buhari, on August 16, 2021, signed the Petroleum Industry Bill, following its passage by the National Assembly in July 2021, a bill that had gotten stuck in the legislature for about 10 years.
For instance, 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.
As a registered company, NNPC Ltd was floated with an initial capital of N200 billion, being the company with the highest share capital in the history of the country.
