Midwestern Oil & Gas Company Limited, has announced the appointment of Kayode Olatunbosun, CFA, FCCA, as its Chief Financial Officer (CFO). According to the company’s statement;
“A seasoned finance professional, Kayode brings extensive expertise in corporate finance, M&A, capital markets, and strategic financial management, with a proven track record of delivering high-value transactions and business transformation.
He is a highly accomplished finance professional, who has played a pivotal role in equity & debt financing, corporate restructuring and financial strategy, with a strong track record in optimising financial performance and unlocking value.
His leadership has been instrumental in turnaround strategies, profitability enhancement and capital efficiency in complex business environments.”
Kayode Olatunbosun is a seasoned finance professional with a robust educational and professional background. He earned a BSc in Actuarial Science from the University of Lagos and an Executive MBA from Said Business School, University of Oxford, graduating with distinction.
His professional qualifications include being a Chartered Financial Analyst (CFA) and a Fellow of the Association of Chartered Certified Accountants (FCCA), reinforcing his expertise in financial analysis and strategy.
His career trajectory is marked by significant roles across major firms in the finance and oil and gas sectors. He began at KPMG in the transactions and restructuring practice, handling over 20 advisory engagements across various sectors.
He then moved to Oando PLC’s corporate finance team, where he was involved in fundraising and M&A transactions totaling circa US$4 billion in deal value.
At Coronation Merchant Bank, he served as Head of Mergers & Acquisitions and Capital Markets, spearheading transactions worth over US$700 million.
Prior to his role at First Hydrocarbon Nigeria Company Limited, where he was CFO, he was Corporate Finance Manager at Lekoil, an Africa-focused oil and gas company listed on the AIM-London Stock Exchange.
His leadership at First Hydrocarbon included pivotal roles in financial planning, capital markets, and strategic partnerships, notably contributing to a $25 million gas infrastructure development agreement in the Lagos Free Zone in 2022, funded through equity. This experience, combined with his earlier roles, showcases his capability in equity and debt financing, corporate restructuring, and optimizing financial performance in complex business environments.
The appointment of Mr. Olatunbosun as CFO is strategically timed to enhance Midwestern Oil & Gas Company Limited’s financial performance and support its growth ambitions. He poses proven expertise in areas that are critical for the company navigating the evolving energy landscape in Nigeria, potential expansions and compliance with environmental standards.
Mr. Oboden Valentine Ibru, the CEO of Midwestern Oil & Gas, expressed enthusiasm for his appointment, stating, “His extensive experience and strategic insight will be invaluable as we navigate the challenges and opportunities ahead. We look forward to his contributions in driving our financial excellence and sustainable growth.” This sentiment is echoed in Mr. Olatunbosun’s own statement, where he expressed honor in joining the company and a commitment to achieving financial goals and creating long-term value for stakeholders.
Midwestern Oil & Gas Company Limited is a Nigerian-owned firm, with a significant partnership involving a 70% interest in the Umusadege Field, located in PML 22 (formerly OML 56), and a joint venture with SunTrust Atlantic Energies, which holds a 30% interest.
The company began upstream activities in 2005 and has since achieved milestones such as first oil production in 2008 at flow rates of around 3,000 barrels per day, scaling up to approximately 25,000 barrels per day through development drilling (Upstream Nigeria Oil & Gas Directory).
It also acquired Umugini Pipeline Infrastructure Limited in 2005, enhancing its infrastructure with a 51.4km pipeline commissioned in 2014, and received awards for health, safety, and environmental (HSE) achievements in 2017 (Midwestern Oil & Gas Company Limited).
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