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The Major Oil Marketers Association of Nigeria announced on Thursday the appointment of the Chief Executive Officer, Ardova Plc, Mr Olumide Adeosun, as chairman of the association.

Adeosun succeeds the CEO of 11 Plc (formerly Mobil Oil Nigeria Plc), Mr. Tunji Oyebanji, who was chairman from 2019 to 2021.

His tenure, which commenced on September 1, 2021, will run for two years, concluding in September of 2023, according to a statement.

Adeosun was quoted as saying, “I feel very privileged for the opportunity to serve as the Chairman of MOMAN in such an exciting time for our industry. As a collective we are at cusp of new beginnings for the sector and I envisage that as we move towards less price-controlled reality, our journey will make for interesting times.

“My appointment as chairman of our respected association commences just as the Petroleum Industry Act has been encoded into law, marking the beginning of a new era for the downstream sector. As an association, this means that we must be at the forefront of unravelling the opportunities that come with operating in the free-market structures that have been created by the PIA, whilst continually advocating for changes that positively impact our industry and the economy at large.”

The statement said as the CEO of AP, Adeosun’s leadership had yielded increased efficiency and profitability, effectively positioning AP for its planned transformation to an integrated energy company.

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“The entire MOMAN family wishes Mr. Adeosun success and expresses its gratitude to Mr. Oyebanji for his visionary leadership,” it added.

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