THE Nigerian National Petroleum Company Limited (NNPCL) has compulsorily retired all management staff with less than 15 months to statutory retirement.
Making the announcement on X, NNPCL wrote “In our bid to pursue effective organisational 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.”
UPDATE
THE Nigerian National Petroleum Company Limited (NNPCL) has compulsorily retired all management staff with less than 15 months to statutory retirement to scale up its capabilities and rejuvenate its workforce.
On its X handle, the NNPCL announced this on Tuesday, September 19, stating that the move is for the Company to pursue effective organisational renewal to support its strategic business objectives.
“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,” NNPCL said.
The development came barely two days after the NNPCL announced the removal and replacement of three of its executive vice presidents (EVPs), formerly executive directors, before the advent of the Petroleum Industry Act (PIA).
Affected by the removal made by NNPCL on September 19 were Abdulkabir Ahmed, in charge of gas, power and new energies; Adokiye Tombomieye, who headed the upstream segment; and Adeyemi Adetunji, in charge of the downstream.
Olalekan Ogunleye became the EVP gas, power and new energies; Oritsemeyiwa Eyesan was for the Company’s upstream operations, while Adedapo Segun took the downstream.
In July last year, the national oil firm, formerly Nigerian National Petroleum Corporation (NNPC), was unbundled and transitioned into a profit-making entity named NNPCL.
Preparatory to its new status as a limited liability company, the NNPCL in August 2021 did a shakeup that affected the sack and redeployment of senior management staff.
According to the Group Managing Director, Mele Kyari, the appointment enables the Corporation to live up to the expectations of Nigerians and achieve its vision of becoming a world-class energy company of choice.
Over the years, there have been several reports on the mismanagement and financial recklessness of the Corporation’s activities, demanding thorough investigations, transparency and accountability of the firm.
In October 2021, The ICIR reported that the Financial Reporting Council (FRC) had found fault with the financial records of the NNPC, promising to dusk up the reports and expose financial wrongdoings.
The report exposed, among other rottenness in the operations of the NNPCL, one of the subsidiaries of the NNPC managed by the incumbent GMD, Mele Kyari, employed 487 new staff members in 2020.
The 487 new workers were paid N3.93 billion annually, each taking an average of N8.072 million annually or N672,713 monthly.
The report showed that the monthly salaries earned by the staff were about the annual salary of a Level 8 Federal Government worker.
Between 2019 and 2020, the refinery employed 1,162 new staff, paying N41.163 billion in salary and wages, according to The ICIR’s calculations of the Company’s wage data on its financial statements.
Of the 487 staff members employed in 2020, 430 were senior and management staff, amounting to 88.2 per cent, with substantial financial implications. Only 57 were junior staff members.
On September 16, The ICIR recently reported how an ad-hoc committee of the House of Representatives interrogated the NNPCL boss Kyari over the controversial acquisition of OVH Energy by NNPCL.
The investigation is not unconnected with the allegations of N20 billion payment to a ghost consultant that has rattled the national oil company.
