The Managing Director and Chief Executive Officer of 11 Plc, Adetunji Oyebanji, will retire from the company effective March 31, 2026, bringing to a close an extraordinary 45-year career in Nigeria’s downstream oil and gas industry.
The announcement was contained in a formal notice to NASD Plc and the investing public dated March 3, 2026, and signed by the company secretary.
In a statement, the Board of Directors expressed profound appreciation to Oyebanji for his decades of leadership and dedication, acknowledging his pivotal role in shaping the company’s growth and transformation.
Oyebanji joined Mobil Oil Nigeria Plc in 1980 as a Marketing Representative Trainee, beginning a career marked by steady progression through key strategic and leadership roles across the organization. Over the years, he served in several capacities 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 the divestment of ExxonMobil’s downstream interests, the company was rebranded as 11 Plc, where he continued as Managing Director/CEO from April 2017.
During his tenure as chief executive, Oyebanji steered the company through a period of significant transition and industry evolution, reinforcing its market position in Nigeria’s highly competitive downstream petroleum sector.
Beyond his corporate leadership, Oyebanji has played influential roles across Nigeria’s corporate governance and energy landscape. He currently serves as President and Chairman of Council of the Chartered Institute of Directors Nigeria.
His professional contributions also include past leadership roles as Chairman of the Major Energy Marketers Association of Nigeria and Chairman of the Petroleum Downstream Group of the Lagos Chamber of Commerce and Industry. He has also served on the councils of the Nigerian Institute of Management and the LCCI, and was a board member of the Society for Corporate Governance Nigeria for more than a decade.
Oyebanji’s professional career also extended beyond Nigeria. He served as Project Associate at Mobil Oil Corporation’s headquarters in Fairfax, Virginia, as Manager, Planning at Mobil Africa Sales Inc., and later as Executive Director at Mobil Oil Cameroon and Mobil Oil Ethiopia. He subsequently held a global leadership role as Manager, Industrial and Wholesale Fuels for Africa and the Middle East, based in Belgium.
The Board described his career as a testament to exceptional leadership, professionalism, and long-standing commitment to the oil and gas industry, noting that his legacy will continue to inspire future generations of industry leaders.
The company wished him a fulfilling and well-deserved retirement, thanking him for his tireless contributions to the organization and the broader energy sector.
