Africa Oil Corp. (TSX: AOI, Nasdaq Stockholm: AOI) has appointed Ahonsi Unuigbe to its Board of Directors, reinforcing its commitment to governance and strategic leadership.
Unuigbe, Founder & CEO of Petralon Energy and Chairman of Nigerian Exchange Limited (NGX), brings extensive expertise in oil and gas, capital markets, and corporate governance.
He joins alongside new directors: Huw Jenkins, Pascal Nicodeme, Edwyn Neves, and Richard Norris, following the departure of Keith Hill, Erin Johnston, Andrew Bartlett, and Gary Guidry.
This leadership transition aligns with Africa Oil Corp.’s recent consolidation of Prime Oil & Gas Coöperatief U.A. (Prime) shareholding and the introduction of a new quarterly dividend of USD 25 million, targeting an annual distribution of at least $100 million.
Roger Tucker, President and CEO of Africa Oil, commented: “I welcome our new Directors and thank our outgoing Directors for their support over the past year as we delivered several strategic transactions to simplify and strengthen the Company’s fundamental business proposition.
“I would like to thank Pascal Nicodeme, our outgoing CFO, for his steadfast service to the Company, and the Board is pleased to retain his unique insights and expertise as a new Board member. We look forward to leveraging our strong position to deliver long-term value for all our stakeholders.”
Unuigbe’s appointment underscores increasing cross-border collaboration between African and global capital markets. As one of three independent directors nominated by BTG O&G, he joins a newly restructured nine-member board guiding Africa Oil’s next phase of growth.
“This appointment represents a significant milestone for cross-border collaboration in the African energy sector,” said Unuigbe.
“I am honored to join the board of Africa Oil Corp. at such a pivotal time in the company’s development.
This role provides an excellent opportunity to contribute to the growth of a major player in the African energy landscape while strengthening ties between Nigerian capital markets and international exchanges.”
With these appointments, Africa Oil is well-positioned to navigate the evolving energy landscape and drive sustainable growth. The company remains committed to operational excellence, disciplined capital allocation, and long-term stakeholder value.
Africa Oil Corp. is a Canadian oil and gas company with assets in deepwater Nigeria and Kenya. It is listed on the Toronto Stock Exchange and Nasdaq Stockholm under the symbol “AOI.”
