The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, has taken on a new role in Nigeria’s oil industry.
The 51st Ooni of Ife has been appointed Chairman of the Board of Directors of Amaranta Oil & Gas Development Company Limited.
The appointment comes as Oil Mining Lease 42 (OML 42) moves into another stage of development.
According to the company, the move is part of efforts to strengthen its leadership as the oil asset gains more attention.
“Amaranta Oil & Gas Development Company Limited has appointed His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, Ojaja II, the 51st Ooni of Ife, as Chairman of its Board of Directors, in a strategic leadership move coming as Oil Mining Lease 42 (OML 42) enters a new phase of development and emerges as an increasingly important asset in Nigeria’s energy landscape,” a note from the firm said.
Oba Ogunwusi is expected to provide direction as the company works on the next phase of OML 42.
The asset is located in Nigeria’s Niger Delta and was previously operated by Shell Petroleum Development Company of Nigeria.
Its interests were later transferred to indigenous companies as Nigeria pushed for greater local participation.
The development comes amid efforts to increase crude oil output and attract fresh investment.
It also reflects the growing role of Nigerian companies in the upstream oil and gas sector.
The Ooni of Ife oil and gas appointment is therefore coming at an important time for Amaranta and OML 42.
Oba Ogunwusi became the Ooni of Ife in 2015 and has been involved in several development initiatives.
His appointment is expected to add strategic leadership as Amaranta prepares for the next phase of the asset’s development.
