The Nigerian National Petroleum Company Limited (NNPCL) says its officials with less than 15 months to statutory retirement will be exiting the company effective September 19, 2023.
The NNPCL made this known in a statement shared on its X account on Tuesday, September 19.
It stated that the move was in a bid to pursue effective organisational renewal to support the delivery of its strategic business objectives.
The company said: “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 Executive Vice Presidents, other management staff with less than 15 months to statutory retirement will be exiting the company effective September 19, 2023.
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“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 NNPCL had, on Sunday, announced the appointments of three new Executive Vice Presidents, as well as outlined their various designations.
They are Oritsemeyiwa Eyesan, who is now the new Executive Vice President, Upstream; Olalekan Ogunleye took over as the Executive Vice President, Gas, Power, and New Energy; and Adedapo Segun was appointed as the Executive Vice President, Downstream.
The announcement of the appointments of the three Executive Vice Presidents, which was posted on the company’s X (formerly Twitter) account on Sunday, stated that their appointments were with immediate effect.
This development led to the compulsory retirement of the company’s three former Executive Vice Presidents, including Abdulkabir Ahmed, Gas, Power and New Energies; Adokiye Tombomieye, Upstream; and Adeyemi Adetunji, Downstream.
The national oil company, formerly known as Nigerian National Petroleum Corporation (NNPC), transited into a commercial entity in July 2022 to become the Nigerian National Petroleum Company Limited.
The official transitioning into a private entity means that the oil company is now being regulated in line with the provisions of the Companies and Allied Matters Act.
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