NNPCL sacks senior employees with  15 months left of their  statutory retirement age 

 

All managerial employees with less than fifteen months until their mandatory retirement will leave the firm today, September 19, 2023, according to a statement released by the Nigerian National Petroleum firm Limited (NNPCL).

The management-signed statement on September 18 read as follows: “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 (3) Executive Vice Presidents, other Management Staff with less than fifteen (15) months to statutory retirement will be exiting the Company effective 19th September 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.”

The Nigerian National Petroleum Company Limited (NNPCL) made a tactical move by hiring new Executive Vice Presidents to lead crucial sectors, according to a Nairametrics story from September 17, 2023. The Executive Vice Presidents for the Upstream, Gas, Power, and New Energy sectors, as well as the Downstream sector, are Oritsemeyiwa A. Eyesan, Olalekan Ogunleye, and Adedapo A. Segun.

This strategic reorganisation is the consequence of important suggestions made by the Bola Ahmed Tinubu Advisory Council’s subcommittee on energy and natural resources back in June 2023.

The subcommittee established a strict timeframe of 0 to 100 days for the new government to painstakingly head-hunt capable, seasoned, and reform-driven officials inside the NNPCL. The subcommittee was committed to enacting crucial reforms in the energy sector.

The company’s main goal is to make sure that it operates as a business entity strictly in compliance with the Petroleum Industry Act’s (PIA) rules, properly paying taxes and remitting profits to the Federation Account.

In addition to establishing executive hires, the subcommittee pushed for the strategic sale of some assets while also emphasising the need to restructure NNPCL.

These comprehensive recommendations reflect a resolute effort to fortify the NNPCL, facilitating its alignment with statutory mandates and transforming it into a more efficient and profit-oriented entity.