The corporation stated in a statement yesterday that the impacted employees’ retirement was effective immediately and emphasized that the decision would promote its corporate goals.
NNPCL announced this through its official X (previously Twitter) profile and stated: “It has become vital to reinvigorate our personnel in our attempt to seek effective organizational renewal to support the execution of our strategic business objectives. As a result, other senior personnel with fewer than 15 months until their mandatory retirement will also leave the firm as of September 19, 2023, in addition to the recent departure of three Executive Vice Presidents.
This is in keeping with our objective to increase the capabilities of NNPC Ltd. by focusing on talent management and providing equal opportunity to all Nigerians.
As part of the continuing reorganization, the business also announced on Sunday the hiring of three new executive vice presidents.
Oritsemeyiwa Eyesan, Olalekan Ogunleye, and Adedapo Segun were selected as the new executive vice presidents of upstream, downstream, gas, power, and new energy, respectively.
The hiring of the new EVPs was effective immediately, according to the statement, which was published early on Sunday on the company’s X (previously Twitter) profile.
According to NNPC Ltd., “the company wishes to announce the following executive appointments with immediate effect in line with NNPC Ltd.’s commitment and drive for organizational 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 three previous executive vice presidents of the company—Adeeyemi Adetunji, for downstream, Adokiye Tombomieye, for upstream, and Abdulkabir Ahmed, for gas, power, and new energies—are forced into retirement.
Nigerian National Petroleum Company Limited, formerly known as Nigerian National Petroleum Corporation, underwent a complete transformation into a commercial organization in July of last year.
Since the oil firm has officially become a private corporation, it is now subject to the Companies and Allied Matters Act’s regulations. Therefore, the company’s group chief financial officer is anticipated to take on extra responsibilities for maintaining the group’s liquidity as well as the effective distribution of cash to its companies based on profits and commercial relationships.