The Nigerian National Petroleum Company Limited (NNPC) has announced the compulsory retirement of all management staff with less than 15 months to statutory retirement. This decision was made to support the company’s business objectives and was effective immediately.
The NNPC also carried out employee reorganizations 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.
Additionally, the NNPC recently appointed three new Executive Vice Presidents as part of an ongoing shake-up in the company. This move is part of the organization’s commitment to organizational renewal, talent management, and strengthening its capabilities.
The NNPC transitioned into a commercial entity known as the Nigerian National Petroleum Company Limited in July last year, operating as a limited company with a CEO and executive vice presidents. The government’s funding for the company’s projects and purposes has also been halted compared to the previous 45 years of the NNPC’s existence before the transition.