Eterna Plc Appoints Olumide Adeosun as New Managing Director

Eterna Plc announced the appointment of Mr Olumide Adeosun as the Managing Director/Chief Executive Officer of Eterna Plc, effective February 3, 2025.

Mr Adeosun succeeds Mr Abiola Lawal, who resigned from the Company effective January 31, 2025.

The Board extends its profound appreciation to Mr Lawal for his significant contributions and exemplary leadership during his tenure as Managing Director/Chief Executive Officer.

Mr Olumide Adeosun is a seasoned thought leader and accomplished executive with over 25 years of experience in the finance and energy sectors.

Mr Adeosun began his career as a Business Analyst under the PricewaterhouseCoopers (PwC) UK graduate program in London.

He subsequently transitioned to BP Plc, where he held various senior roles in upstream finance, business support, and commercial operations. He served in BP’s Integrated Trading and Supply subsidiary, BP Oil International, within the Deals Origination Business Unit.

In BP’s Strategic Origination team, he played a pivotal role in developing BP’s Africa trading strategy, culminating in establishing BP Global West Africa Ltd in Nigeria. As Vice President of Commercial Development, he spearheaded initiatives with 300% revenue growth within three years.

In 2015, Mr Adeosun joined PwC’s West Africa Energy Advisory team in Lagos. He led transactions that raised over US$1.5bn in infrastructure and energy investments, including overseeing the acquisition of a leading multinational midstream and downstream company.

In 2019, he was appointed CEO of Ardova Plc, where he 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 with other shareholders in record time. Before becoming MD/CEO of Eterna Plc,

Mr Adeosun served as Group Executive Director of Rainoil Limited and Non-Executive Director of Eterna Industries Limited.

He is the immediate past Chairman of the Major Energy Marketers Association of Nigeria (MEMAN). He remains a passionate advocate for clean energy, serving on the advisory boards of renewable energy firms and consultancies.

Mr. Adeosun’s accomplishments include receiving the Business Day Downstream CEO of the Year Award (2021).

He is 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).

He holds a Bachelor of Architecture degree from Woodbury University, California, and an MSc in Mathematics from Royal Holloway, University of London. The Board congratulates Mr Olumide Adeosun on his appointment and wishes him great success in his new role.

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