- Olumide Adeosun has been appointed as the new MD/CEO of Eterna Plc, effective February 3, 2025.
- Mr Adeosun, with over 25 years of experience in finance and energy, succeeds Abiola Lawal, who will retire on January 31, 2025.
Mr Olumide Adeosun, the immediate past Chairman of the Major Energy Marketers Association of Nigeria (MEMAN), has been named the new Managing Director and Chief Executive Officer of Eterna Plc. The company’s Board of Directors announced that the appointment will take effect on February 3, 2025.
On Thursday, the company’s Secretary and Legal Adviser, David Edet, issued a statement noting that Mr Abiola Lawal, the current MD/CEO, will step down effective January 31, 2025. The Board thanked Mr. Lawal for his leadership and significant contributions during his tenure.
The board congratulated Mr Adeosun on his new role and extended its best wishes for his success. Mr Adeosun brings over 25 years of experience in the finance and energy sectors. Before he was appointed MD/CEO of Eterna Plc, he was the Group Executive Director of Rainoil Limited and a Non-Executive Director at Eterna Industries Limited. He also strongly advocates for clean energy, serving on advisory boards of renewable energy firms and consultancies.
Adeosun’s career began as a Business Analyst at PricewaterhouseCoopers (PwC) in the UK, and he later moved on to BP Plc. During his tenure at BP, he played a key role in developing BP’s Africa trading strategy and establishing BP Global West Africa Ltd in Nigeria. As Vice President of Commercial Development, he was instrumental in driving a 300% revenue growth over three years.
In 2015, he joined PwC’s West Africa Energy Advisory team in Lagos, where he led transactions that raised over $1.5 billion in energy and infrastructure investments. This included overseeing the acquisition of a significant multinational midstream and downstream company.
Mr. Adeosun’s notable achievements continued at Ardova Plc, where, as CEO, he implemented a five-year transformation strategy focused on LPG and renewable energy and successfully led a bid for a majority stake in the Olua Field on OML 25.
He is a member of the Financial Reporting Council of Nigeria, a Fellow of the Chartered Institute of Directors, and a Society for Petroleum Engineers (SPE) member. Mr. Adeosun holds a Bachelor of Architecture degree from Woodbury University, California, and a Master’s in Mathematics from Royal Holloway, University of London.
The Board of Eterna Plc expressed confidence that Mr Adeosun’s wealth of experience will further enhance the company’s growth and success in the energy sector.