After a distinguished 45-year career in Nigeria’s oil and gas industry, the Managing Director and Chief Executive Officer of 11 Plc, Adetunji Oyebanji, will retire from his position effective March 31, 2026.
The announcement was disclosed in a notice issued to the investing public and NASD Plc on March 3, 2026. The notice was signed by the company’s secretary, Chris Olumayowa Meseko.
In a statement accompanying the announcement, the Board of Directors expressed appreciation for Oyebanji’s decades of service, commending his leadership and contributions to the company’s growth and transformation. The board also wished him a fulfilling retirement.
Oyebanji began his career in 1980 with Mobil Oil Nigeria Plc as a Marketing Representative Trainee. Over the years, he advanced through several key roles including Planning Associate, Pricing Manager, District Manager, Branch Manager, Manager of Fuels Services, and Executive Director for Fuels.
He was appointed Chairman and Managing Director of Mobil Oil Nigeria Plc in October 2008. Following the divestment by ExxonMobil from the Nigerian downstream sector, Oyebanji became Managing Director and Chief Executive Officer of 11 Plc in April 2017. In that role, he guided the company through a major transition while strengthening its position in Nigeria’s downstream petroleum market.
His tenure was marked by significant corporate transformation and steady operational growth, further reinforcing the company’s reputation for efficiency and reliability.
Beyond his corporate leadership, Oyebanji has played prominent roles in Nigeria’s business and energy sectors. He currently serves as President and Chairman of the Council of the Chartered Institute of Directors Nigeria.
He previously served as Chairman of the Major Energy Marketers Association of Nigeria and also led the Petroleum Downstream Group of the Lagos Chamber of Commerce and Industry.
In addition, he served as a council member of the Nigerian Institute of Management and the Lagos Chamber of Commerce and Industry, and was a board member of the Society for Corporate Governance Nigeria for more than a decade.
Oyebanji’s professional experience also extended beyond Nigeria, with international assignments including Project Associate at Mobil Oil Corporation’s headquarters in Fairfax, Virginia, United States; Manager of Planning at Mobil Africa Sales Inc.; Executive Director roles at Mobil Oil Cameroon and Mobil Oil Ethiopia; and Manager of Industrial and Wholesale Fuels for Africa and the Middle East, based in Belgium.
According to the Board, Oyebanji leaves behind a legacy defined by integrity, professionalism, and strategic leadership, which will continue to inspire both the company and the broader energy industry.
