Oyebanji Steps Down After 45 Years in Oil and Gas Industry

A Legacy of Leadership and Excellence

After a remarkable 45-year career in the oil and gas industry, Mr. Adetunji Oyebanji, the Managing Director/Chief Executive Officer of 11 Plc, is set to retire effective March 31, 2026. His departure marks the end of an era for the company and the broader Nigerian petroleum sector.

The news was officially announced in a notice to NASD Plc and the investing public, dated March 3, 2026, and signed by the Company Secretary, Mr. Chris Olumayowa Meseko. The Board of Directors expressed deep appreciation for Oyebanji’s decades of dedicated service, highlighting his leadership and invaluable contributions to the growth and transformation of the company. They wished him a fulfilling and successful retirement.

A Career Built on Excellence

Oyebanji began his career with Mobil Oil Nigeria Plc in 1980 as a Marketing Representative Trainee. Over the years, he steadily climbed the ranks, taking on several strategic roles, including Planning Associate, Pricing Manager, District Manager, Branch Manager, Manager, Fuels Services, and Executive Director, Fuels.

In October 2008, he was appointed Chairman and Managing Director of Mobil Oil Nigeria Plc. Following ExxonMobil’s divestment, he became the Managing Director/CEO of 11 Plc in April 2017. During this time, he led the company through a critical transition period, consolidating its position in Nigeria’s downstream petroleum sector.

His tenure as Managing Director/CEO was marked by significant corporate transformation and sustained growth, reinforcing the company’s reputation for operational excellence and reliability.

Contributions Beyond the Boardroom

Beyond his corporate achievements, Oyebanji has made substantial contributions to Nigeria’s oil and gas industry and the broader business community. He currently serves as President and Chairman of the Council of the Chartered Institute of Directors Nigeria.

He previously held the position of Chairman of the Major Energy Marketers Association of Nigeria and the Petroleum Downstream Group of the Lagos Chamber of Commerce and Industry. He also served as a Council member of the Nigerian Institute of Management and LCCI, and was a board member of the Society for Corporate Governance, Nigeria, for over a decade.

International Experience and Expertise

Oyebanji’s professional experience extended beyond Nigeria, with international assignments that further enhanced his expertise. He worked as a Project Associate at Mobil Oil Corporation’s headquarters in Fairfax, Virginia, USA; Manager, Planning at Mobil Africa Sales Inc.; Executive Director at Mobil Oil Cameroon and Mobil Oil Ethiopia; and Manager, Industrial and Wholesale Fuels, Africa and Middle East, based in Belgium.

A Lasting Legacy

The Board noted that his legacy of integrity, professionalism, and strategic vision will continue to inspire the company and the industry at large. As he steps down from his role, the impact of his leadership will be felt for years to come.

Key Highlights of Oyebanji’s Career

• Early Career: Started with Mobil Oil Nigeria Plc in 1980 as a Marketing Representative Trainee.
• Rise Through the Ranks: Held key positions such as Planning Associate, Pricing Manager, District Manager, and eventually Executive Director.
• Leadership Roles: Served as Chairman and Managing Director of Mobil Oil Nigeria Plc and later as Managing Director/CEO of 11 Plc.
• Corporate Transformation: Led 11 Plc through a critical transition period, strengthening its position in the downstream petroleum sector.
• Industry Involvement: Active in various industry associations and organizations, contributing to the development of the oil and gas sector in Nigeria.
• International Experience: Worked in multiple countries, gaining valuable insights into global operations and market dynamics.
• Legacy: Known for his integrity, professionalism, and strategic vision, which have left a lasting impact on the company and the industry.