NDEP Plc Announces Mr. Goodie Ibru (OON) as New Chairman of NDEP Plc

Niger Delta Exploration & Production Plc (NDEP) is pleased to announce the appointment of Mr Goodie Ibru (OON), as Chairman of the NDEP Board of Directors, June 1 2012.

Mr Ibru has served on the NDEP Plc Board for several years, and is well positioned to assume the Office of Chairman and oversee the Company’s next phase of expansion and growth. Mr Ibru brings to the role, his varied and extensive business and entrepreneurial experiences, which span over forty years, and his in-depth knowledge of the Nigerian and African business environment.

Mr Goodie Ibru, Chairman, NDEP Plc said ‘It is a tremendous honour to be at the helm of such an innovative, Independent and fully integrated Nigerian oil and gas Company. I will work tirelessly to ensure that NDEP Plc builds on its successes and achievements. I draw significant strength from my several years of experience as a Director of NDEP, as well as the warm and assured support of my fellow colleagues on the Board.’

‘I would also like to take this opportunity to wish the outgoing Chairman, Mr Ben Osuno (FNAPE, FNMGS) the very best for the future. He has steered the Company onto its current upward path and has overseen the achievement of many milestones. We sincerely appreciate his efforts.’

Dr ‘Layi Fatona, MD NDEP Plc said, ‘As an astute business man, we are confident that Mr Ibru (OON) will use his expertise and experience to ensure that NDEP plc continues its trajectory of expansion and diversification. We welcome him to the Board, as Chairman, and anticipate an even brighter future ahead for our company and shareholders.’

Mr Ibru replaces Mr Ben Osuno (FNAPE, FNMGS), who stood down as Chairman of the NDEP Plc Board of Directors to retire from the Board effective May 31st 2012. While Chairman, Mr Osuno was committed to the success of NDEP Plc and as a former Director of the Department of Petroleum Reources (DPR), he frequently brought his government relations and knowledge to bear on different issues faced by the Company during his tenure.

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Mr. Goodie Ibru (OON) – Chairman, NDEP Plc

A lawyer by training, Mr. Goodie Ibru graduated LLB (London) from the Holborn College of Law in 1965 and was called to the English Bar (Inner Temple) in 1966 and is currently a Principal Partner in the Law firm of G.M.Ibru & Co. An astute entrepreneur and businessman, he is well established in the hotel and hospitality industry in Nigeria and is the Chairman of Ikeja Hotels Plc, owners of the Lagos Sheraton Hotel & Towers and the Abuja Sheraton Hotel & Towers. He is also the Chairman of The Tourist Company of Nigeria Plc, owners and operators of the Federal Palace Hotel & Suites Victoria Island, Lagos.

Mr. Ibru is involved in many business associations and is a Past President and Chairman of the Council of the Nigerian Stock Exchange. He is also currently, the Honorary Consul of the Republic of Lithuania in Nigeria, Executive Vice President (West Africa Chapter) African Business Round Table, Chairman NEPAD Business Group and Vice President Lagos Chamber of Commerce. He remains on the board of several companies including The Guardian Press Ltd.; Dunlop Nigeria Plc and Crusader General Insurance Plc. He is an Officer of the Order of the Niger (OON).

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