NDEP Plc Board Changes

Niger Delta Exploration & Production Plc (NDEP) announced that Mr. Ladi Jadesimi has been appointed Chairman of the Board on 21 June 2016, after Mr. Goodie Ibru (OON) stepped down from the Board on the same day.
In addition, NDEP has also appointed Mr. Cyril Odu and Mr. Afolabi Oladele as Non-Executive Directors on the Board, with immediate effect. This comes after Prof. SJS Cookey (OFR), who is also the Chairman of the Board of Trustees – NDPR Host Community Development Trust, retired from the NDEP Board.
Mr Jadesimi joined the NDEP Plc Board as a Director in 2010. He attended Oxford University (Jurisprudence, 1966) and has over 15 years of practice as a Chartered Accountant. After taking early retirement to engage in private business, Mr. Jadesimi founded a successful logistics and engineering enterprise, LADOL (Lagos Deep Offshore Logistics Base).
Both Mr. Odu and Mr. Oladele have had distinguished and longstanding careers within the oil and gas industry, before becoming Partners at African Capital Alliance (ACA), a strategic investor in NDEP Plc.

Mr Oladele has 24 years of oil and gas experience, having spent most of his career with the industry regulator, the Nigerian National Petroleum Corporation (NNPC) where he served in various capacities culminating in his appointment as Group Executive Director. He gained in-depth industry knowledge through various postings to OPEC, Mobil USA and Total France and is a current Board Member of Addax Petroleum Corporation.

Mr Odu’s career spans 39 years, with the majority spent at Mobil. He was the Vice Chairman of the Board of Mobil Producing Nigeria where he had responsibility for Business Services and was also the Chief Financial Officer of the Upstream Affiliates of ExxonMobil in Nigeria.

Commenting on the Board Changes, Dr. Layi Fatona, MD, NDEP said, ‘In uncertain times, you need an experienced team at the helm. The combined expertise of Mr Odu and Mr Oladele, under the capable watch of Mr Jadesimi as Chairman, will complement the existing NDEP Board. The Company is favourably positioned for the future.’

‘I would like to thank both Mr. Goodie Ibru (OON) and Prof Cookey (OFR) for their many years of service. As longstanding board members, their contributions have been immense. In a very real way, they have contributed to the NDEP success story, taking the company from its modest beginnings to the Pan African, Integrated Independent that it is today.’

‘As a member of the Host Community Development Trust from 2006 and Chairman since 2010, Prof. Cookey deserves special recognition for contributing to the peaceful operating environment enjoyed by NDPR. We have successfully attained 10 years of consecutive, uninterrupted oil production from the Ogbele Oil and Gas Field.’

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