Indigenous global oil firm, Belemaoil Producing Limited, has announced the appointment of Ahmadu H. Sambo as its new managing director/chief executive officer. The company also said that it has appointed Emmanuel O. Onos as its chief finance officer to drive its transformation and realise its shared vision.
In a statement, the company’s board of directors said it approved the new appointments “having carefully reviewed their rich credentials and found them deserving of the positions.”
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Sambo, a former group general manager finances, NNPC, is joining Belemaoil with over 35 years of experience in the oil and gas industry spanning public and private sectors in Nigeria and USA.
He also served as managing director of three subsidiaries of NNPC, which include NNPC Pension Fund, NIDAS Marine and NNPC Oilfield Services in addition to the position of general manager in charge of NAPIMS Finance and Accounts as well as group general manager accounts for NNPC Group.
The statement reads: “The board is confident that under the leadership of the new MD/CEO, Belemaoil will derive significant benefits for its joint venture operations and shareholders.
“The new Chief Finance Officer (CFO), Emmanuel Onos, also comes on board with over 35 years of experience in the financial space of the oil and gas industry at the managerial level in both local and international scenes.
“The board believes strongly that the combination of Ahmadu Sambo as MD/CEO and Emmanuel Onos as CFO of Belemaoil, supported by the existing management team, will revitalize the company’s Joint Venture operations, unlock multibillion-dollar value and reposition it for a greater height that will be more beneficial to all shareholders.”
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It said that the board considers the team as the perfect blend of skills and expertise needed to reset Belemaoil as a world-class E&P company and to ensure that company becomes the best public enterprise for Nigeria and international equity investors.
It added that the two appointments are effective from September 1, 2024.
According to the statement, sequel to the new appointments, Tein T.S. Jack-Rich, the president/founder of Belemaoil, will now focus on his vision for strategic multi-dimensional business development, including lens in the Fintech space, for strategic partnership with communities to foster financial inclusion, promote social good, peace and shared prosperity for national gain.
Belemaoil, with over 1.2 trillion proven gas reserve, is now ready for higher profitability as the Adamawa State born, United States-trained finance expert takes over leadership from September 1, 2024.
Speaking on the new appointments, Jack-Rich said that he believes in the new appointees’ enormous business management ingenuity as well as the ability to steer the ship of Belemaoil to become the first truly Indigenous oil and gas explorer and producer which emerged from an oil-producing community in the Niger Delta, to be launched in the Nigerian Stock Exchange Market as well as London and the New York Stock Exchange with overwhelming stock growth.
“We have no choice but to dream big and break new business boundaries beyond our eyes, for shareholders. I know our critics will say that this task is herculean. And I know you can deliver for yourself, for Nigeria’s sake, our investors, as well as the community that sees Belemaoil as its model,” he said.
