The Nigerian National Petroleum Company Limited (NNPC) has been restructured to accommodate five new presidents needed to drive the oil company’s performance.

The Punch reported that the five persons, including executive directors, were named on Thursday in Abuja as new vice presidents.

The new move by the company is in line with the provisions of the petroleum Industry Act (PIA) passed into law in August last year by President Muhammadu Buhari.

The NNPC completed its transition and incorporation as a limited liability company under the Companies and Allied Matter Act and was listed with an initial capital of N200 billion.

The Punch quoted a senior oil firm official saying there are now five vice presidents.

The source said it is a form of restructuring to enhance performance and drive profitability.

According to the source, the Group Executive Director of Upstream, Adokiye Tombomieye, has not become Executive President of Upstream.

Additionally, the Group Executive Director of Downstream, Adeyemi Adetunji, was named as Vice President of Downstream.

The oil company named Inuwa Danladi, Executive Vice President of Business Services. Oritsemeyiwa Eyesan assumed duty as Executive Vice President, Corporate Strategy and Sustainability.

And Executive Director of Gas and Power Abdulkadir Ahmed was named Executive Vice President, Gas, Power and New Energies.

The Executive Director of Gas and Power, Abdulkabir Ahmed, was also named Executive Vice President of Gas, Power and New Energies.

The Minister of Petroleum Resources would ensure the registration of the NNPC Limited within six months of the enactment of the PIA, with the Minister of Finance having nominal shares in the company.

No name from the Southeast appeared in the new list of the newly appointed vice presidents.

Sources, however, confirmed that the list is not exhaustive and that amendments could be made in the future.
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