Nigerian energy infrastructure company Axxela Limited has announced a major leadership transition, with Group Chief Executive Officer Timothy Ononiwu retiring after nearly 10 years of service and the appointment of new executive leadership to steer the company’s next growth phase.
The company confirmed that Moshood Olajide has been appointed as the new Group Chief Executive Officer (GCEO), while Yetunde Demuren has been named Chief Financial Officer (CFO).
Axxela said the transition marks a significant milestone in its long-term expansion strategy as the company deepens investments in natural gas infrastructure and cleaner energy solutions across Nigeria and the wider region.
Ononiwu, who previously served as Chief Financial Officer before becoming GCEO, was credited with strengthening the company’s financial position, driving expansion initiatives, and building strategic partnerships across the energy value chain.
Chairman of the Board, Nzan Ogbe, praised Ononiwu’s contribution to the company’s growth and stability.
“On behalf of the Board, I would like to thank Timothy Ononiwu for his commitment and significant contribution to Axxela as Group Chief Executive Officer and, before that, as Chief Financial Officer,” Ogbe said.
“Axxela has benefitted immensely from his dedication and strategic leadership over the years. His efforts have positioned the company for financial strength and long-term success, and we are grateful for the strong foundation he leaves behind.”
Ogbe said incoming GCEO Moshood Olajide would lead the company through its next phase of expansion, citing his extensive experience in energy, infrastructure, corporate governance, and strategic transformation.
Olajide is expected to focus on expanding Axxela’s integrated energy offerings, accelerating natural gas adoption, strengthening regional market presence, and advancing cleaner and more reliable energy solutions.
Industry analysts view the appointment as strategically important as Nigeria intensifies efforts to position natural gas as a transition fuel for industrialisation, power generation, and lower-carbon energy development.
Commenting on his retirement, Timothy Ononiwu described his tenure at Axxela as one of the defining periods of his professional career.
“Leading Axxela has been one of the greatest honours of my professional life,” he said. “I am deeply grateful to our employees, partners, and stakeholders whose dedication, innovation, and resilience have shaped our success.”
The company also promoted Yetunde Demuren to the role of Chief Financial Officer from her previous position as Head of Corporate Finance and Treasury Management.
Axxela described Demuren as an experienced finance executive with nearly two decades of expertise in financial strategy, project viability analysis, capital management, and infrastructure financing.
Her appointment is expected to support the company’s ongoing infrastructure expansion plans and strengthen financial oversight as Axxela scales its operations in Nigeria’s evolving energy market.
The leadership changes come at a time when investors are increasingly focused on gas infrastructure development and energy transition opportunities across Africa, with companies such as Axxela Limited positioning themselves to meet growing industrial and commercial energy demand.