All managerial employees with fewer than 15 months until their statutory retirement date were forced to retire by the Nigerian National Petroleum Company Limited.
The corporation stressed that the decision would promote its business goals in a statement it made yesterday, announcing that the affected employees would retire with immediate effect.
According to NNPCL, who made this announcement using its official X (previously Twitter) page, “It has become vital to reinvigorate our personnel in our bid to seek effective organisational renewal to support the delivery of our strategic business objectives.
As a result, in addition to the recent departure of three Executive Vice Presidents, other management personnel with fewer than 15 months until their statutory retirement will leave the company as of September 19, 2023.
This is consistent with our pledge to increase the capabilities of NNPC Ltd. through targeted talent management and equal opportunity for all Nigerians.
In addition to the hiring of three new executive vice presidents as part of the ongoing reorganisation, the corporation had also announced some type of restructuring on Sunday.
Adedapo Segun was designated executive vice president of downstream, Olalekan Ogunleye was named executive vice president of gas, power, and new energy, and Oritsemeyiwa Eyesan was made executive vice president of upstream.
The new EVPs were appointed with immediate effect, according to the statement, which was published early on Sunday on the organization’s X (previously Twitter) profile.
The company announced the appointments, saying that they were made “in keeping with NNPC Ltd.’s commitment and drive for organisational renewal, anchored on our business imperatives, standards of excellence, people development, and strengthening our competencies and capabilities through broad-based leadership exposures.”
As a result, the company’s three former executive vice presidents for Gas, Power and New Energies, Upstream, and Downstream, Abdulkabir Ahmed, Adokiye Tombomieye, and Adeyemi Adetunji, are all required to retire.
The Nigerian National Petroleum Company, formerly known as the Nigerian National Petroleum Corporation, underwent a complete transformation into a commercial organisation in July of last year, becoming the Nigerian National Petroleum Company Limited.
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The oil firm is currently governed in accordance with the provisions of the Companies and Allied Matters Act as a result of the formal conversion into a private business. The firm’s global chief financial officer is therefore expected to take on extra responsibilities, such as making sure the company has enough cash on hand and allocating resources to its businesses in an effective manner based on profits and commercial relationships.
