…Segun Appointed As CFO, Abdullahi EVP Downstream, Ntia EVP Upstream
In a bold move aimed at strengthening its operational efficiency and boost its competitive edge in the global oil and gas industry, the Nigerian National Petroleum Company Ltd has announced key leadership appointments.
The move is in line with the provisions of the Petroleum Industry Act and the NNPC Ltd’s commitment to strengthening corporate governance and operational efficiency within national oil company.
It is also in line with the NNPC Ltd management’s commitment to ensure that the company continued to succeed in driving Nigeria’s energy sector.
In line with this move, the NNPC Ltd announced the appointment of Mr. Adedapo Segun as its new Chief Financial Officer (CFO),
Segun was, until his appointment, the company’s Executive Vice President, Downstream.
He is to take over the position of CFO from Mr Umar Ajiya.
Additionally, the NNPC Ltd also announced two other key leadership appointments.
They are the appointment of Mr. Isiyaku Abdullahi as the Executive Vice President (EVP), Downstream and the appointment of Mr. Udobong Ntia as the Executive Vice President (EVP), Upstream.
These appointments reflect NNPC’s commitment to building a strong and cohesive leadership team to drive operational excellence and strategic growth.
The NNPC Ltd. board and management, also extended their heartfelt appreciation to Mr. Umar Ajiya and Mrs Oritsemeyiwa Eyesan for their service to the company.
NNPC Ltd said it remains committed to operational excellence, financial sustainability, and global competitiveness as it continues to play a vital role in advancing Nigeria’s energy industry.
Mr. Adedapo Segun (Chief Financial Officer)
He joined NNPC Limited as Treasurer in April 2016 and enthusiastically drove a series of optimization initiatives culminating in ISO 9001:2015 certification of Group Treasury Quality Management Systems, the very first in the Finance & Accounts function.
In October 2022, following the transition to NNPC Limited, Segun became the pioneer Chief Finance and Investor Relations Officer where he was charged with the responsibility of raising medium and long-term financing for NNPC Limited and its wholly owned subsidiaries, as well as overseeing Investor Relations activities, including the Company’s journey towards its Initial Public Offer.
He led the negotiation and closing of financing initiatives to raise billions of US Dollars and has laid a solid foundation for the emergence of impending NNPC Limited as a Public Limited Liability Company.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), having passed the qualifying examination of the prestigious body in 1990. Segun has an impressive record of successfully leveraging high decision quality in driving optimization and efficiency initiatives in both the private and public sectors.
With over 30 years of accounting and management experience, 25 of which were in a top ten fortune 500 company. Dapo’s oil and gas industry exposure covers both upstream and downstream, in Nigeria as well as in the United States of America.
Beyond the finance and accounting function, he has had experience broadening assignments in Facilities Engineering and Security Services.
Mr. Isiyaku Abdullahi (Executive Vice President, Downstream)
Isiyaku Abdullahi is a seasoned executive with over 30 years of experience in the oil and gas industry, known for his commitment to transparency, accountability, and performance excellence.
He has held various leadership positions, including Group Treasurer of NNPC Ltd, Managing Director of PPMC, and Group General Manager of Accounts/Financial Controller at the NNPC HQ and General Manager, Finance at the NNPC Pension Ltd., demonstrating his versatility and dedication to driving growth and prosperity in the industry.
As a seasoned leader, he has leveraged his technical, commercial, social, and political insights to drive growth and prosperity in the Nigerian Oil and Gas Industry and the Nigerian economy.
He has achieved numerous exceptional accomplishments, including turning PPMC’s fortunes from N3bn to N19bn profit, publishing NNPC’s first audited financial statements in 44 years, and facilitating cost savings of millions of dollars for the federation.
He is poised to lead NNPC Ltd to international prominence, increasing production capacity, rehabilitating refineries, and building new ones to augment energy security.
He has expertise in financial analysis for oil and gas,
financial planning and management in the oil and gas industry as well as building financial models and forecasts for energy operations.
His ability to analyze data and solve problems related to financial performance is unique and he has been developing and implementing strategic financial plans and projects for the NNPC
Udobong Ntia (Executive Vice President Upstream)
Until his appointment as the Executive Vice President, Upstream at the MNPC Ltd, Ntia was a past Executive Director at ExxonMobil
He is an experienced Project Executive with a demonstrated history of working in the oil & energy industry.
He is also skilled in petroleum and gas, and he is a strong business development professional with an MBA focused in Business Administration and Management, from the University of Houston.
He was also a one-time General Manager, External Relations & Business Development at ExxonMobil, where he was responsible for Venture Relations, Public & Government Affairs, and Commercial/Gas & Power Marketing.
Between 2009 and 2010, he was Area Operations Manager responsible for overall asset management and safe operations of four large offshore production facilities with related pipeline gathering network to onshore facility.
He was also accountable for efficient depletion of 2.5GBO Proved Reserves; prudent management of $200m per year in operating costs, and safe production into sales of 150,000 barrers per day crude oil with gas injection/gaslifting facilities in a challenging fiscal and regulatory environment.