Downstream energy marketing major Eterna PLC has announced a major restructuring of its executive leadership team. In an official regulatory filing sent to the Nigerian Exchange Limited (NGX) and the investing public, the company confirmed the appointment of Dr. Jude Nwaulune as its new Managing Director and Chief Executive Officer, effective May 14, 2026.
Dr. Nwaulune takes over from Mr. Olumide Adeosun, who resigned from the top executive position on May 13, 2026. This transition occurs alongside another major boardroom change: Mrs. Phoebean Ifeadi, who joined the board in October 2021, has retired from her role as Executive Director of Corporate Services.
1. Driving Strategic Downstream Assets and LPG Penetration
Eterna PLC’s board explained that selecting Dr. Nwaulune is a strategic choice meant to boost the company’s competitive edge in a fast-changing domestic energy market. The new CEO’s mandate will center on accelerating retail network expansion, improving bulk petroleum storage management, optimizing nationwide supply chains, and driving deeper Liquefied Petroleum Gas (LPG) penetration across Nigeria’s domestic market.
Dr. Nwaulune enters the role backed by over 19 years of professional experience in sales, logistics, and operational management within the downstream sector. Notably, his immediate past role was serving as the Managing Director of Rainoil Logistics Services Limited, where he spent over a decade leading supply chain optimizations and market expansion campaigns.
2. Academic Profile and Professional Credentials
The incoming CEO brings an extensive, interdisciplinary academic background to Eterna’s leadership team, combining technical marketing expertise with corporate communications skills:
| Academic / Institutional Qualification | Granting Body / Institution |
| PhD in Strategic Marketing Management | Babcock University |
| MSc in Marketing Communications | Babcock University |
| PGD in Journalism (PR & Advertising Distinction) | Nigerian Institute of Journalism (NIJ) |
| BSc in Business Administration (Second-Class Upper) | Ambrose Alli University, Ekpoma |
Additionally, Dr. Nwaulune holds professional memberships in several major regulatory and administrative bodies across the country, including the Chartered Institute of Logistics and Transport (CILT), the Chartered Institute of Personnel Management of Nigeria (CIPMN), and the National Institute of Marketing of Nigeria (NIMN).
3. Institutional Capital and Market Positioning
The executive boardroom changes come at an important operational time for the oil marketing firm, following the launch of its ₦21.5 billion Rights Issue designed to clean up its balance sheet and fund capital projects.
While welcoming Dr. Nwaulune’s strategic leadership, Eterna’s board expressed deep appreciation to both the outgoing CEO, Mr. Adeosun, and the retiring Executive Director, Mrs. Ifeadi. Mrs. Ifeadi was specifically praised for her work over the past five years in strengthening the company’s internal corporate governance, compliance structures, and operational frameworks, leaving behind a stable foundation for the incoming executive team.
