L-R: Andy Odeh, Chief Corporate Communications Officer and Mrs Morenike Adewunmi, Chief Relations Officer
The Nigerian National Petroleum Company Limited (NNPCL) has announced the appointment of two seasoned professionals, Andy Odeh and Morenike Adewunmi, as Chief Corporate Communications Officer and Chief Relations Officer, in what industry experts describe as a strategic move to strengthen stakeholder engagement, rebuild public trust, and lay groundwork for a potential future Initial Public Offering (IPO) or partial listing.
The appointments, confirmed in a statement by the national oil company on Tuesday, highlight NNPCL’s efforts to operate with greater transparency and align itself with global best practices as it transitions into a fully commercial entity under the Petroleum Industry Act (PIA).
Profiles of the Appointees
Odeh, who will head NNPCL’s communications unit, boasts more than three decades of experience in oil and gas, advertising, and broadcasting. He spent 26 years at Nigeria LNG (NLNG), where he drove corporate rebranding, spearheaded major public campaigns, and introduced impactful community initiatives, including one of Nigeria’s most effective micro-credit schemes for host communities. He also played a central role in creating the NLNG Prize for Energy Reporting.
A graduate of the University of Jos and the University of Lagos, with advanced studies at INSEAD Business School and the Nigerian Institute for Policy and Strategic Studies (NIPSS), Odeh is widely regarded as a communications leader with a track record of engaging diverse stakeholders.
Adewunmi, meanwhile, is a legal and government relations expert with over 25 years of experience, most of it at Shell Companies in Nigeria (SCIN). She has overseen critical regulatory engagements, secured key permits, and built lasting networks with government agencies and policymakers. Known for her leadership and emotional intelligence, she has been instrumental in managing non-technical risks and ensuring compliance in Nigeria’s challenging regulatory environment.
Strategic Significance of the Appointments
Industry observers say the appointments are not routine but carefully aligned with NNPCL’s broader ambitions. By strengthening its communications and relations arms, the company is seeking to position itself as an investor-friendly organisation, capable of meeting the rigorous standards of transparency and governance required by capital markets.
Dr. Abiodun Arowolo, an energy analyst, explained:
“These appointments send a signal that NNPCL is preparing for something bigger. National oil companies eyeing IPOs typically bolster their communications and investor relations early on. Odeh and Adewunmi’s expertise will be crucial in building credibility with both domestic and international stakeholders.”
Global Parallels: Aramco and Petrobras
The move mirrors strategies adopted by other national oil giants. Ahead of Saudi Aramco’s record-breaking IPO in 2019, the company invested heavily in global communications and investor relations, ensuring its narrative resonated with investors worldwide. That effort helped it raise $25.6 billion, the largest IPO in history.
Similarly, Brazil’s Petrobras, after being rocked by corruption scandals in the mid-2010s, leaned on seasoned communications and governance experts to rebuild its reputation. Transparent engagement and strengthened stakeholder relations helped the company regain market confidence and re-establish its credibility on the global stage.
Corporate governance consultant, Mrs. Ifeoma Okafor, drew the parallel:
“For state-owned oil companies, reputation is as valuable as oil reserves. What Aramco and Petrobras show is that credibility with investors depends on communications and governance. NNPCL is clearly borrowing from this playbook.”
Implications for Stakeholders and Investors
The timing of these appointments is also significant as NNPCL prepares to begin supplying crude oil to local refineries in naira from October 1, 2025, a policy shift with major implications for Nigeria’s fiscal framework. Analysts say effective communication of such reforms will be vital to securing both public understanding and investor confidence.
Public relations strategist, Mr. Kadir Ajayi, added:
“Fuel pricing, community relations, and regulatory compliance are sensitive in Nigeria. Miscommunication could erode confidence quickly. By bringing Odeh and Adewunmi on board, NNPCL is fortifying its defenses against reputational risks while presenting itself as a modern, investor-ready company.”
By appointing Andy Odeh and Morenike Adewunmi, NNPCL is signaling its commitment to more than operational efficiency, it is preparing to tell a stronger story to investors, regulators, and the Nigerian public. With these appointments, the company appears to be following the global example of national oil majors that leveraged communications and relations leadership to rebuild trust, attract investment, and prepare for capital market entry.
As Nigeria’s flagship energy company moves deeper into its commercialisation journey, analysts believe these strategic appointments may well be laying the foundation for an eventual IPO or partial listing, an event that could redefine Nigeria’s energy and investment landscape for years to come.
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