The Nigerian National Petroleum Company (NNPC) Limited has compulsorily retired all management staff with less than 15 months to statutory retirement.
In making the announcement on Tuesday, NNPC declared that the reason for the exercise was because of the need to boost its business objectives and strategic operations, adding that it was with immedidate effect.
The move, the company added, is in line with its commitment to scale-up capabilities through targeted talent management and equal opportunity for all Nigerians.
NNPC made the announcement via its official X (formerly Twitter) handle, in which it said, “In our bid to pursue effective organisational 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″.
It was further gathered that the firm also carried out restructuring s in its top management cadre, moving some senior officials to other arms of its ventures such as the Nigeria Liquefied Natural Gas Limited, and Nigeria Petroleum Development Company, among others.
The oil firm had earlier announced the appointments of three new Executive Vice Presidents as part of restructuring exercise. It named Oritsemeyiwa Eyesan as the new Executive Vice President, of Upstream; Olalekan Ogunleye, Executive Vice President, of Gas, Power, and New Energy; and Adedapo Segun as Executive Vice President, of Downstream.
The announcement, which was posted on the company’s X (formerly Twitter) handle early Sunday, stated that the appointment of the new EVPs was with immediate effect.
The measure was a follow-up to the compulsory retirement of the company’s three former Executive Vice Presidents, including Abduladir Ahmed, Gas, Power and New Energies; Adokiye Tombomieye, Upstream; and Adeyemi Adetunji, Downstream.