Difference between revisions of "Silverius Okoli"

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Silverius. I. C. Okoli is a Nigerian businessman and former managing director of the National Oil and Chemical Marketing Plc. He is currently the chairman of the West African Bitumen Emulsion Company and has served as the chairman of the Depot and Petroleum Products Marketers Association

As MD of NOCHEM, the company's management and that of the Nigerian Stock Exchange was besieged by allegations from some staff of the company bordering on diverted petroleum products and irregularities in the sale of Shell's interest in Sierra Leone. (1)


Okoli lived with his grandmother at an early age. He was educated at Government College, Umuahia and earned a degree in Civil Engineering at Ahmadu Bello University before entering a career with the Nigerian Railways. He left the railways to join Shell were he later rose to become the managing director of Shell Sierra Leone. His first job at Shell was in the construction of Shell stations. After the civil war, he was given a job in marketing bitumen to potential customers. In 1993, he was appointed as the chief executive officer of the firm

As Md of National Oil, he embarked on a staff rationalisation strategy and achieved a profitability level of a billion naira but that was shortlived as the firm later went on to announce a loss of 1.6 billion naira in 1998.

In 1995, he left the National Oil and Chemical Marketing Company to form the West African Bitumen Emulsion Company, a leading bitumen supplier in Nigeria.

External links


  • (1)Semiu Salami. 'Storm In NOLCHEM's Tea Cup', The News (Lagos), October 11, 1999