BREAKING: Fuel crisis: NNPC announces fresh appointments

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According to information obtained by ZINGTIE, the Nigerian National Petroleum Company Limited has announced important leadership appointments.

Adedapo Segun was appointed the company’s new Chief Financial Officer (CFO) on Wednesday.

He is supposed to replace Mr. Umar Ajiya as CFO.

He served as the downstream Executive Vice President of the corporation prior to Segun’s promotion.

Likewise, the state-owned oil company announced the appointment of Mr. Udobong Ntia as the Executive Vice President (EVP), Upstream, and Mr. Isiyaku Abdullahi as the EVP, Downstream.

In response to the news, economist Kelvin Emmanuel demanded that President Bola Ahmed Tinubu completely overhaul the NNPC’s management.

“Group CFO and EVP upstream is out. I think the president needs to fire its entire executive management and non-executive board. And give Federal Executive Council approval for unbundling it to the markets, “he said.

Recall how calls to fire NNPC Group Chief Executive Officer Mele Kyari have increased in recent weeks, over Nigeria’s continued fuel price crisis.

At least three petrol price increases were announced by NNPC between August and November 2024, causing the product to rise from N617 a litre to N1,060 at its retail locations.

NNPC was the exclusive purchaser of Dangote Petrol until the recent agreement between Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria.

After Dangote Refinery agreed to sell the product directly to its members at N940 and N990 per litre, IPMAN announced on Tuesday that its members will reduce the price of petrol by at least N50.

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