The Nigeria National Petroleum Company Limited (NNPC Ltd.) has announced a major shake-up in its management, as it sacked all staff who have less than 15 months to their statutory retirement.
The NNPC Ltd. said the decision was part of its organizational renewal strategy to support the delivery of its strategic business objectives.
It also said it was committed to enhancing its capabilities through targeted talent management and equal opportunity for all Nigerians.
The announcement was made in a statement released late on Monday via the company’s official account on X platform, a social media network for professionals.
The statement read: “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 statement did not disclose the number or names of the affected staff, but sources within the company said the move affected several senior managers across various departments and subsidiaries.
The NNPC Ltd. is a state-owned oil and gas company that operates in the upstream, midstream and downstream sectors of the Nigerian petroleum industry.
The NNPC has been under pressure to reform and improve its efficiency in recent years. The company has also been grappling with financial challenges. The sacking of management staff is seen as part of the company’s efforts to address these challenges.
The decision has been met with mixed reactions from Nigerians. Some people have praised the NNPC for taking steps to reform and improve its efficiency. Others have criticized the decision, saying it will lead to job losses and a loss of experienced staff.
It remains to be seen how the decision will impact the NNPC and the Nigerian oil and gas industry as a whole.