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There is a change of baton of power at Eterna Plc, an integrated energy company with diverse activities in the oil and gas industry, as Mr Olumide Adeosun steps in as the new MD/CEO of the company. This follows the resignation of the former MD/CEO Mr Abiola Lukman Lawal effective January 31st, 2025.
In a statement released by the company secretary and legal adviser, David Edet, the appointment of the new MD/CEO takes effect from the 3rd of February 2025.
The board in the statement, commended the outgoing MD/CEO Mr Lukman Lawal for his significant contributions and exemplary leadership during his tenure. The Board equally congratulates Mr Adeosun and wishes him great success in his new assignment.
Before his appointment, Mr Olumide Adeosun had served as Group Executive Director of Rainoil Limited and as a Non-Executive Director of Eterna Industries Limited. A finance and energy expert with over 25 years of working experience, Mr Adeosun began his career as a business analyst under the Price Waterhouse Coopers (PWC) UK graduate programme in London.
He subsequently transitioned to BP Plc, where he held various senior roles in upstream finance, business support and commercial operations.
The statement noted that 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 and as Vice President, Commercial Development, he spearheaded initiatives that achieved a 300% growth in revenue within three years.
As part of his robust career-building profile, in 2015, Mr Adeosun joined PWC’s West Africa Energy Advisory team in Lagos, leading transactions that raised over 1.5 billion dollars in infrastructure and energy investments and as part of his achievements, he oversees the acquisition of a leading multinational midstream and downstream company.
In 2019, Mr Olumide Adeosun was appointed as 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 OML25, establishing a joint venture with other shareholders in record time.
A graduate of a bachelor’s degree in Architecture from Woodbury University, California and an MSc in Mathematics from Royal Holloway, University of London, Mr Adeosun is a passionate advocate of clean energy, serving in the advisory capacity of several boards of renewable energy firms and consultancies. Mr Olumide Adeosun was the immediate chairman of the major Energy Marketers Association of Nigeria. (MEMAN), and apart from being a respected thought leader in the energy sector, he is also 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).
Report by Tunde Olaore
