The Independent Petroleum Producers Group (IPPG) has announced a major leadership transition as Chairman of Waltersmith Group, Abdulrazaq Isa, formally handed over the reins of chairmanship to Adegbite Falade,
Executive Officer of Aradel Plc.

The ceremony, attended by members of the IPPG Board of Trustees and Governance Council, underscored the group’s commitment to continuity, stability and progressive leadership.

Falade’s tenure took effect on Nov 1, 025, marking the start of a new chapter for the organisation. He succeeds Isa, who led the group with distinction from July 2021, a period defined by strategic advancements and strengthened industry influence.

In his valedictory remarks, Isa expressed profound gratitude to IPPG members for their unwavering support during his stewardship.

Reflecting on the collective strides recorded, he said: “It has been a privilege to lead IPPG as indigenous E&P companies have demonstrated the ability to operate safely, efficiently and profitably while ensuring that far greater value stays home.”

He emphasised the vital role of a robust oil and gas sector in national development.

“A healthy and vibrant oil and gas sector remains critical for the development of Nigeria, with progressive indigenous producers best placed to ensure greater linkages between the industry and wider economy, ultimately leading to the rapid industrialisation of the nation,” he added.

Upon taking the mantle of leadership, Falade commended his predecessor for his exceptional service and transformative impact. He pledged to consolidate the Group’s achievements while driving bolder initiatives.

“IPPG remains committed to working collaboratively with all stakeholders in nurturing a petroleum industry that can take its rightful place in the global space,” he said.

He further pledged to intensify efforts around value retention, support ongoing industry divestments, and champion initiatives aimed at unlocking Nigeria’s full hydrocarbon potential.

“We will deepen value-retention initiatives, support ongoing divestments, and help ensure Nigeria realises its full hydrocarbon potentials while delivering lasting prosperity to our people,” he added.

Speaking on behalf of the Board of Trustees, Austin Avuru commended the outgoing Chairman, noting that under his leadership, IPPG achieved significant milestones driven by his commitment and strong belief in the capabilities of indigenous E&P operators.