Belemaoil appoints new CEO, CFO

Indigenous oil firm, Belemaoil Producing Limited, has announced the appointment of Ahmadu Sambo as its new Managing Director/Chief Executive Officer.

The company also announced Mr Emmanuel Onos as its chief financial 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 credentials and found them deserving of the positions.

Sambo, a former group general manager of finances at the Nigerian National Petroleum Company Limited, was said to be joining Belemaoil with over 35 years of experience in the oil and gas industry spanning public and private sectors in Nigeria and the United States of America.

He was said to have also served as the managing director of three subsidiaries of the NNPC, which include the NNPC Pension Fund, NIDAS Marine and NNPC Oilfield Services.

He was also a general manager in charge of NAPIMS Finance and Accounts and 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, 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 revitalise 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.”

It was added that the board considered the team as the perfect blend of skills and expertise needed to reset Belemaoil as a world-class exploration and production company and to ensure that the company becomes the best public enterprise for Nigeria and international equity investors.

The two appointments took effect on September 1, 2024.

Sequel to the new appointments, the President/founder of Belemaoil, Tein Jack-Rich, said he would now focus on his vision for strategic multi-dimensional business development, including lenses in the Fintech space, for strategic partnership with communities.

Jack-Rich said he believed in the new appointees’ business management ingenuity and their ability to steer the ship of Belemaoil to become the first truly indigenous oil and gas explorer and producer, to be launched in the Nigerian Stock Exchange Market as well as London and the New York Stock Exchange.

“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.

“Belemaoil, with over 1.2 trillion proven gas reserves, is now ready for higher profitability as the Adamawa State-born finance expert takes over leadership,” he noted.