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Sunday, 9 August 2015

NNPC Clear Out: '50 Percent Of Top Level Officers To Be Retired'

  • As the efforts to reposition the Nigerian National Petroleum Corporation (NNPC) continue, there are indications that about 50 percent of the top level officers of the corporation would be retired.
    An industry source told BusinessDay that most of the group general managers and managing directors of the corporation’s subsidiaries would be affected by the next wave of the exercise which started with the replacement of the group managing director.
    The source further said that the new group managing director of NNPC, Emmanuel Ibe Kachikwu, would preffer to have a lean team to work with to carry out his mandate of transforming the oil and gas industry in a most effective way.
    Some of the management staff that have served close to30 years and above may be paid off, our source said .
    It would be recalled that President Muhammadu Buhari appointed Kachiukwu the new helmsman for the NNPC on Tuesday and by Wednesday, all the eight executive directors were asked to go.
    It is most likely that the managing directors of all the refineries and and other subsidiaries such as the Nigerian Petroleum Development Company (NPDC) would be the next set to be asked to go , another NNPC source told our reporter.

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