By Ayomide Otitoju
The Board of Directors of Eterna Plc has announced the appointment of Olumide Adeosun as the company’s new Managing Director/Chief Executive Officer. The appointment, effective February 3, 2025, was disclosed in a statement issued on Thursday by the Company Secretary/Legal Adviser, David Edet.
The statement also acknowledged the resignation of the outgoing MD/CEO, Mr. Abiola Lawal, whose tenure will conclude on January 31, 2025. The Board commended Lawal for his exceptional contributions and leadership, which have significantly advanced the company’s objectives.
“The Board congratulates Mr. Adeosun on his appointment and wishes him great success in his new role,” the statement added.
Adeosun’s Career Highlights
Before this appointment, Adeosun served as Group Executive Director at Rainoil Limited and as a Non-Executive Director at Eterna Industries Limited. He is the immediate past Chairman of the Major Energy Marketers Association of Nigeria (MEMAN) and an advocate for clean energy, serving on advisory boards of renewable energy firms.
A seasoned finance and energy expert with over 25 years of experience, Adeosun’s career spans several notable roles, including:
PwC UK: Began as a Business Analyst under its graduate program.
BP Plc: Held senior positions in upstream finance, business support, and commercial operations. He was instrumental in developing BP’s Africa trading strategy, leading to the establishment of BP Global West Africa Ltd in Nigeria.
PwC West Africa Energy Advisory Team: Led transactions raising over $1.5 billion for infrastructure and energy investments.
Ardova Plc: As CEO, he executed a transformative five-year strategy focusing on LPG and renewable energy and led the acquisition of a majority stake in the Olua Field on OML 25.
Recognitions and Credentials
Adeosun is a Fellow of the Chartered Institute of Directors, a Member of the Financial Reporting Council of Nigeria, and a Member of the Society for Petroleum Engineers (SPE).
He holds a Bachelor of Architecture from Woodbury University, California, and an MSc in Mathematics from Royal Holloway, University of London.
With his extensive experience and proven track record, Adeosun’s leadership is expected to drive Eterna Plc to new heights in the energy sector.
