Premier Paints Plc has appointed Emeka Ene as chairman of its board after a major change in the ownership and leadership structure of the Nigerian paint manufacturer.
The company announced the appointment alongside three other new directors following the retirement of three existing board members. The changes took effect on August 31, 2026, subject to ratification by shareholders at the company’s next Annual General Meeting.
Ene is the Chief Executive Officer of Oida Group, whose businesses include Xenergi Limited, the company that recently became the controlling shareholder in Premier Paints.
The development puts an experienced oil and gas executive at the head of the board of a listed manufacturing company as Premier Paints enters a new phase under Xenergi’s control.
Xenergi’s Move Changed Premier Paints’ Ownership
The board restructuring follows Xenergi’s acquisition of a controlling interest in Premier Paints.
Xenergi initially acquired 61,003,350 Premier Paints shares, representing a 49.60% stake, in June 2026. The acquisition followed regulatory approvals from the Federal Competition and Consumer Protection Commission, the Securities and Exchange Commission and the Nigerian Exchange.
Because the transaction gave Xenergi a major stake in the listed company, it subsequently launched a mandatory takeover offer to other Premier Paints shareholders.
The takeover documents stated that Xenergi offered ₦38 per share for up to 2 million additional Premier Paints shares. The offer represented about a 25% premium to Premier Paints’ market price of ₦30.04 on June 25, 2026.
Following the takeover process, Xenergi moved into controlling ownership of Premier Paints.
That ownership change provides the immediate background to the company’s latest board appointments.
Emeka Ene Becomes Board Chairman
Premier Paints appointed Ene as chairman alongside three non-executive directors.
They are:
- Emeka Ene, Board Chairman
- Adebowale Fagbemi, Non-Executive Director
- Dr John Erinne, Non-Executive Director
- Doseke Akporiaye, Non-Executive Director
The appointments followed the retirement of Adedoyin Adeyinka, Dr M.K.O. Balogun and Ajayi Oluyemi from the board, effective August 31.
The appointments remain subject to shareholder ratification at the company’s Annual General Meeting.
The restructuring therefore represents a significant change in the composition of Premier Paints’ board.
Who Is Emeka Ene?
Ene brings a background that is largely rooted in Nigeria’s oil and gas industry.
He is the CEO of Oida Group, which includes Oida Energy Limited, Xenergi Limited, Xenoil and the Enugu Industrial Park Free Zone.
His career has also included leadership roles in professional and industry organisations.
Ene served as chairman of the Exploration and Production Committee of the International Gas Union for the 2022–2025 triennium. He was also previously a director of the World Free Zones Organization.
His industry involvement extends to the Society of Petroleum Engineers and the Petroleum Technology Association of Nigeria.
He is the immediate past chairman of the Board of Trustees of the SPE Nigeria Council and previously served as chairman of PETAN. He also previously chaired the SPE Port Harcourt Section.
His appointment therefore brings a board chairman with extensive experience across energy, industrial development and professional industry organisations.
Ene’s Connection to Xenergi
The appointment is particularly significant because of Ene’s position within the group that now controls Premier Paints.
Xenergi is part of Oida Group, which Ene leads as CEO.
That creates a direct connection between Premier Paints’ new board leadership and its controlling shareholder.
The structure is important when examining the company’s transition because the board is now being led by an executive from the wider group behind the ownership change.
The appointment itself does not establish what specific business strategy the new board will pursue. Premier Paints has not announced a detailed new strategy alongside the appointments.
What is clear is that the company has changed both its ownership structure and several members of its board.
Three Directors Retire
The restructuring also marks the departure of three previous directors.
Adedoyin Adeyinka, Dr M.K.O. Balogun and Ajayi Oluyemi retired from the board effective August 31, according to the company’s disclosure.
Premier Paints acknowledged the contribution of the outgoing directors as the company welcomed the incoming board members.
The change creates room for four new directors with backgrounds spanning oil and gas, engineering, renewable energy, infrastructure, logistics and corporate governance.
That combination gives the new board a broader mix of industry experience than a paint manufacturing profile alone.
Adebowale Fagbemi Brings Oil and Gas Experience
Adebowale Fagbemi joins the board as a non-executive director.
Fagbemi has 28 years of experience in the oil and gas industry, with work covering areas including formation evaluation, reservoir monitoring, production testing, marginal field development, gas conversion plants and project management.
He studied Mechanical Engineering at the University of Ibadan and later obtained an MBA from Henley Business School at the University of Reading in the United Kingdom.
Fagbemi also previously served as chairman of the Society of Petroleum Engineers Nigeria Council.
His appointment adds another director with extensive energy-sector experience to the new Premier Paints board.
Dr John Erinne Adds Engineering Expertise
Dr John Erinne joins as another non-executive director.
Erinne is a chemical engineer with decades of experience in operations, engineering and technical audits.
His professional background includes assignments involving international oil companies and multinational service companies. He is registered with the Council for the Regulation of Engineering in Nigeria and is a Fellow of both the Nigerian Society of Chemical Engineers and the Nigerian Society of Engineers.
His academic background includes degrees from the University of Lagos, Strathclyde University in Glasgow and Loughborough University in the United Kingdom.
For Premier Paints, his engineering background adds technical experience to a board overseeing a manufacturing company.
Doseke Akporiaye Brings International Governance Experience
Doseke Akporiaye joins the board with experience across several industries and markets.
She has more than 20 years of international leadership and governance experience covering renewable energy, infrastructure, logistics, technology, advisory services and social-impact organisations in Africa and the United States.
Akporiaye holds an Executive MBA from INSEAD.
She currently serves as Executive Director of Women of Renewable Industries and Sustainable Energy in the United States and as a non-executive director of HR Indexx in Nigeria.
Her background includes corporate governance, financial stewardship, risk oversight and strategy execution.
Her appointment therefore adds experience outside the traditional oil and gas background shared by several members of the new board.
Why the Board Restructuring Matters
Premier Paints is a listed Nigerian company, meaning changes to its ownership and board structure are relevant to shareholders and the wider capital market.
The company’s latest restructuring follows a change in control rather than an isolated director appointment.
Xenergi first acquired a 49.60% stake before proceeding with a mandatory takeover process.
The subsequent appointment of Ene as chairman places a senior executive from the wider ownership group at the head of Premier Paints’ board.
The other appointments also bring experience from industries that have connections to industrial production, infrastructure and energy.
Still, the appointments themselves do not guarantee a change in Premier Paints’ financial performance or operating results.
The next stage will depend on the decisions made by the new board and management, as well as the company’s operating performance.
Premier Paints Enters a New Corporate Phase
The board changes come at a time when Premier Paints is moving under new ownership.
That creates a different corporate structure from the one that existed before Xenergi’s investment.
The new board now has to oversee the listed company while shareholders consider the appointments at the Annual General Meeting.
The experience of the incoming directors suggests a board with strong exposure to energy, engineering, infrastructure and governance.
For Ene in particular, the move from leading an energy-focused business group to chairing a listed paint manufacturer creates a new corporate responsibility.
His previous industry roles give him experience in professional associations, energy development and industrial organisations. Premier Paints will now be the latest company where that experience enters the boardroom.
What Comes Next for Premier Paints
The immediate next step is shareholder consideration of the new appointments.
The four appointments remain subject to ratification at the Annual General Meeting.
Beyond that process, attention will turn to how the new ownership and board structure affect Premier Paints’ operations.
The company has not announced a detailed transformation plan alongside the appointments, so expectations about future expansion or financial performance should be treated carefully.
For now, the confirmed development is a change in ownership followed by a major board restructuring.
Emeka Ene now chairs the board, while Fagbemi, Erinne and Akporiaye bring additional experience in oil and gas, engineering, renewable energy, infrastructure, technology and corporate governance.
The changes mark one of the most significant corporate developments for Premier Paints in 2026 and give Xenergi a new board structure through which to oversee its investment in the listed company.
Conclusion
Premier Paints has entered a new phase following Xenergi’s move into controlling ownership and the subsequent restructuring of its board.
Emeka Ene’s appointment as chairman is the most prominent part of the change. As CEO of Oida Group, which includes Xenergi, Ene already sits within the wider corporate structure behind the ownership transition.
His experience across the oil and gas industry and several major professional organisations gives him a substantial corporate background, while the three incoming non-executive directors add experience in engineering, renewable energy, infrastructure, technology and governance.
The appointments still require shareholder ratification.
What happens next will depend on how the new board approaches Premier Paints’ business, operations and long-term strategy. For shareholders and the Nigerian capital market, the company now offers a clear example of how a change in ownership can lead to a broader transformation in board leadership.
Frequently Asked Questions
1. Who is Emeka Ene?
Emeka Ene is the CEO of Oida Group, whose businesses include Oida Energy Limited, Xenergi Limited, Xenoil and Enugu Industrial Park Free Zone. He has also held leadership positions in the International Gas Union, Society of Petroleum Engineers Nigeria Council and Petroleum Technology Association of Nigeria.
2. Why did Premier Paints appoint a new chairman?
The appointment followed a restructuring of Premier Paints’ board after Xenergi acquired a controlling stake in the company. Three previous directors retired effective August 31, 2026, while four new directors, including Ene as chairman, were appointed.
3. Who are the other new Premier Paints directors?
The other three appointments are Adebowale Fagbemi, Dr John Erinne and Doseke Akporiaye. Their professional backgrounds cover oil and gas, engineering, renewable energy, infrastructure, logistics, technology and corporate governance. The appointments remain subject to shareholder ratification at the company’s Annual General Meeting.
