Abayomi Awobokun: Pushing oil marketing beyond frontiers
Following the brand name change recently, Mr. Abayomi Awobokun has now become the Chief Executive Officer of OVH Energy Marketing (which was formerly Oando Marketing PLC).
In March this year, while as CEO of Oando Downstream, Awobokun emerged as one of the World Economic Forum (WEF) 2016 Young Global Leaders; a programme which was launched in 2004 as a platform to recognise outstanding and committed leaders from various fields including arts, business and politics.
He was chosen among the 121 ‘Action-oriented entrepreneurial minds under 40’ that were positively influencing global economies, joining an enviable list of other honorees from all regions of the world including Facebook founder, Mark Zuckerberg; as well as CNN personalities Anderson Cooper and Sanjay Gupta.
At just 38, Awobokun’s rise on the ladder of career success tells the story of the rewards of determination, resilience and diligence.
After obtaining a first degree in Mathematics from the University of Ibadan, Awobokun worked briefly at the Lagos Business School (LBS) as an administrative staff. In search of the Golden Fleece, he went to the United Kingdom with savings from his admin job and got a Masters’ degree in International Business, as well as certifications in Information Technology such as with MCP, CCNA and PRINCE 2 certifications.
As a means to augment his tuition fees in the University of Guildford, Surrey, Awobokun engaged in some menial jobs before landing a job with Halifax Bank of Scotland. Although having no prior banking experience, within a short period of time, Awobokun became Area Manager of the bank.
He returned to Nigeria in 2005 and got a contract job with Oando as Project Manager in the Strategy and Planning department where he developed and implemented the company’s first Project Execution and Support System called the ‘Oando Execution & Support System’ (OESS).
In 2006, he was appointed Project Manager charged with the implementation and integration of a $12 million Enterprise Resource Planning operating platforms which would improve efficiency and cut cost of all of Oando’s processes across the Group.
At the expiration of the Oracle assignment in 2008, Awobokun was offered an appointment as Executive Assistant to the Group Chief Executive of the Oando Group. Here, he was responsible for coordinating the Group’s efforts to raise capital for its short and medium term projects including $200 million equity bridge from offshore lenders arranged by Merrill Lynch, $95 million raised from a syndicate of international banks for Oando’s acquisition of two deep offshore assets belonging to Shell, $150 million rigs financing currently in progress and over $60 million raised locally from Nigerian Banks.
He was also involved in co-coordinating the Group’s efforts in assessing potential Upstream opportunities most recently the 30 perecnt farm-in interest in OML 090 “Akepo” in December 2008 by Oando PLC.
In mid-2009, there was a major shake-up in Oando Marketing Plc which led to the exit of a large number of senior management of that subsidiary. This was how the young Awobokun, barely 31 years of age at the time, was appointed Acting Deputy Chief Operating Officer. Within couple of months, his appointment was confirmed, and six months later, he was made the Chief Operating Officer.
In 2011, Awobokun rose to become CEO after the Deputy GCEO and then CEO of Oando Marketing, Mr. Omamofe Boyo, relinquished the position.
Within a few years of him taking over the helm of affairs, Oando Marketing (now OVH Energy Marketing) has become Nigeria’s largest indigenous top oil marketer. Today, the company is Nigeria’s leading supplier and retailer of refined petroleum products, with product supply in excess of two billion litres annually, which accounts for 20 percent of the private sector supply of refined products into Nigeria.
On the name change of Oando Marketing Limited to OVH Energy Marketing Limited, Awobokun said that OVH represents the new shareholders of the firm comprising Oando, Vitol and Helios. Although the corporate name has changed, the products of the firm are licensed to be marketed as Oando in order to sustain the Oando heritage and entrepreneurship.
Awobokun also spearheads the trading and retail operations of the business in the United Kingdom, Mozambique, South Africa, United Arab Emirates, Ghana, Togo, and North Africa.
A statement by the company said that under his leadership, Oando Downstream has raised the delivery standards of the industry in terms of operational efficiency, innovation, and professional service.
“This drive has led to the company’s development of West Africa’s first Midstream jetty to increase the efficiency of petroleum product supply into Nigeria, reducing vessel discharge time, eliminating the need for lightering, and saving the country demurrage costs of over $27million annually.”
The company has also reflected in commitment through their corporate social responsibility initiatives, including rehabilitating roads and environs within its community; switching low-income earners to cleaner cooking fuels by providing attractive financing options to ease the cost of acquiring Oando’s famous 3kg cylinders and training of over 5,000 blue collar workers in the auto mechanical industry.
Awobokun is also actively involved in the Freedom Foundation, a faith-based initiative, which seeks to rehabilitate adults exposed to the use of recreational drugs.
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