Nigeria’s downstream oil and gas company, Eterna Plc, has announced significant changes to its leadership structure, naming Dr Jude Nwaulune as its new Managing Director and Chief Executive Officer following the resignation of Olumide Adeosun.
The appointment, which takes effect from 14 May 2026, was disclosed in a statement filed with the Nigerian Exchange (NGX) and signed by the company secretary, David Edet. The development comes barely a day after Mr Adeosun stepped down from the position on 13 May.
In the official notice, the company stated:
“Eterna PLC hereby notifies Nigerian Exchange Limited and the investing public that the Board of Directors has approved the appointment of Dr Jude Nwaulune as the Managing Director/Chief Executive Officer of the Company with effect from 14 May 2026.”
The board also acknowledged the contributions of the outgoing chief executive.
“Dr Nwaulune succeeds Mr Olumide Adeosun, who resigned as Managing Director/Chief Executive Officer with effect from 13 May 2026. The Board expresses its sincere appreciation to Mr Adeosun for his valuable contributions, leadership, and service to the Company during his tenure and wishes him every success in his future endeavours.”
Why Eterna Chose Nwaulune
According to the company, Dr Nwaulune’s appointment reflects confidence in his leadership strength and broad experience across Nigeria’s downstream petroleum sector.
Eterna noted that his expertise spans petroleum retail expansion, LPG market penetration, bulk storage management, logistics, and nationwide fuel distribution operations — areas considered critical to the company’s next phase of growth.
Before his elevation, Dr Nwaulune served as Managing Director of Rainoil Logistics Services Limited, where he reportedly played a major role in driving operational efficiency and strategic business expansion.
With nearly two decades of experience in sales, marketing, business development, logistics, and operations management, he is widely regarded as a seasoned industry executive with deep knowledge of the energy value chain.
Over the last 12 years, he has led several growth-focused initiatives across different business segments in the industry, helping companies improve supply chain systems, strengthen brand positioning, and expand market reach.
Academic and Professional Background
Dr Nwaulune holds a degree in Business Administration from Ambrose Alli University, where he graduated with Second Class Upper honours.
He also earned a Postgraduate Diploma in Journalism from the Nigerian Institute of Journalism with distinction in Public Relations and Advertising.
In addition, he obtained both a Master’s degree in Marketing Communications and a PhD in Strategic Marketing Management from Babcock University.
The new CEO belongs to several professional institutions, including the Chartered Institute of Logistics and Transport (CILT), the Chartered Institute of Personnel Management of Nigeria (CIPMN), the Nigerian Institute of Marketing of Nigeria (NIMN), and the Nigerian Institute of Public Relations (NIPR).
Beyond corporate leadership, he has authored three books and published multiple academic articles in local and international journals. He has also attended executive programmes and industry conferences across Africa and Europe.
Executive Director Phoebean Ifeadi Retires
Alongside the leadership transition, Eterna Plc also confirmed the retirement of Mrs Phoebean Ifeadi as Executive Director, Corporate Services, effective 13 May 2026.
Mrs Ifeadi joined the board in October 2021 and was credited with strengthening the company’s governance systems and institutional structures during her tenure.
The company praised her contributions in a separate statement, saying:
“During her tenure, she provided exemplary leadership across the Company’s corporate services functions, making significant contributions to the strengthening of the Company’s institutional frameworks, operational structures, and governance practices.”
The board further added:
“The Board extends its profound appreciation to Mrs Ifeadi for her outstanding service and wishes her continued success in her future endeavours.”
The latest leadership changes signal a new phase for Eterna Plc as the company positions itself for expansion and operational growth within Nigeria’s competitive downstream energy market.