The Nigerian National Petroleum Company Limited, NNPC, has forced all managerial workers with less than 15 months until statutory retirement to retire. The national oil company made the statement early Tuesday morning.
The NNPC stated that the impacted employees’ retirement would take effect immediately, emphasizing that the move would serve the company’s commercial objectives.
The Company, while disclosing this via its official X (formerly Twitter) handle, said, “In our bid to pursue effective organizational renewal to support the delivery of our strategic business objectives, it has become imperative to rejuvenate our workforce.
“Consequently, in addition to the recent exit of three Executive Vice Presidents, other management staff with less than 15 months to statutory retirement will be exiting the company effective September 19, 2023.
“This is in line with our commitment to scale up NNPC Ltd.’s capabilities through targeted talent management and equal opportunity for all Nigerians.”
According to reports, the corporation also reorganized its top management cadre, shifting certain senior executives to other arms of its operations such as Nigeria Liquefied Natural Gas Limited and Nigeria Petroleum Development Company, among others.
On Sunday, three new Executive Vice Presidents were chosen as part of the ongoing restructuring of the multibillion-dollar national corporation.
Oritsemeyiwa Eyesan is the new Executive Vice President of Upstream; Olalekan Ogunleye is the new Executive Vice President of Gas, Power, and New Energy; and Adedapo Segun is the new Executive Vice President of Downstream.
The statement, which was made on the company’s X (previously Twitter) handle early Sunday, indicated that the new EVPs were effective immediately.
The firm before outlining the earlier stated names/designations, said, “In line with NNPC Ltd.’s commitment and drive for organizational renewal, anchored on our business imperatives, standards of excellence, people development, and strengthening our competencies and capabilities through broad-based leadership exposures, the company wishes to announce the following executive appointments with immediate effect.”
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