NNPC announces compulsory retirement of senior management staff

The Nigerian National Petroleum Company Limited (NNPC) has taken a significant step in its ongoing organizational transformation by announcing the compulsory retirement of all management staff members who are less than 15 months away from their statutory retirement.

This move is aimed at rejuvenating the company’s workforce and aligning it with strategic business objectives.

In an official announcement via its social media handle, the national oil firm stated, “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 action is part of NNPC’s commitment to enhancing its capabilities through targeted talent management and equal opportunities for all Nigerians.

It follows the recent appointment of three new Executive Vice Presidents and a series of employee reorganizations within the senior management cadre.

NNPC has been undergoing significant changes since its full transition into a commercial entity in July last year, operating as the Nigerian National Petroleum Company Limited.

This transformation has brought about corporate governance reforms, increased financial transparency, and a focus on optimizing business performance. The company now operates as a limited liability entity, run by a CEO and Executive Vice Presidents.

The new organizational changes are expected to streamline NNPC’s operations, align its workforce with its strategic objectives, and enhance its overall performance as a key player in Nigeria’s oil and gas sector.