Eterna Plc appoints Olumide Adeosun as New MD/CEO
By Yunus Yusuf
Eterna Plc’s Board of Directors has announced the appointment of Mr. Olumide Adeosun as the new Managing Director/Chief Executive Officer of the company.
The appointment will take effect on February 3, 2025, according to a statement issued by Mr. David Edet, the Company’s Secretary/Legal Adviser, in Lagos on Thursday.
In the statement, Edet commended the outgoing MD/CEO, Mr. Abiola Lawal, who has resigned effective January 31, 2025, for his exceptional leadership and significant contributions during his tenure.
The Board congratulated Adeosun on his appointment and wished him great success in his new role.
Before his appointment as MD/CEO of Eterna Plc, Adeosun served as Group Executive Director at Rainoil Limited and as a Non-Executive Director at Eterna Industries Limited.
He is also the immediate past Chairman of the Major Energy Marketers Association of Nigeria (MEMAN) and a dedicated advocate for clean energy. He serves on the advisory boards of renewable energy firms and consultancies.
Adeosun is a finance and energy expert with over 25 years of experience in both sectors.
The statement highlighted Adeosun’s career achievements: “Adeosun began his career as a Business Analyst under the PricewaterhouseCoopers (PwC) UK graduate program in London.
He later moved to BP Plc, where he held various senior roles in upstream finance, business support, and commercial operations.
“In BP’s Strategic Origination team, he played a pivotal role in developing BP’s Africa trading strategy, which led to the establishment of BP Global West Africa Ltd in Nigeria.
“As Vice President of Commercial Development, he spearheaded initiatives that led to a 300% revenue growth within three years.”
“In 2015, Adeosun joined PwC’s West Africa Energy Advisory team in Lagos, where he led transactions raising over $1.5 billion in infrastructure and energy investments.
“Notably, he oversaw the acquisition of a leading multinational midstream and downstream company.”
“In 2019, he was appointed CEO of Ardova Plc, where he successfully executed a five-year transformation strategy focused on LPG and renewable energy.
He also led the successful bid for a majority stake in the Olua Field on OML 25, establishing a joint venture in record time.”
Adeosun is a Member of the Financial Reporting Council of Nigeria, a Fellow of the Chartered Institute of Directors, and a Member of the Society of Petroleum Engineers (SPE).
He holds a Bachelor of Architecture degree from Woodbury University, California, and an MSc in Mathematics from Royal Holloway, University of London.
