There are indications that about 50 percent of the top level officers of the Nigerian National Petroleum Corporation (NNPC)would be retired involuntarily as part of measures to revitalise the corporation
According to BusinessDay, 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 other subsidiaries such as the Nigerian Petroleum Development Company (NPDC) would be the next set to be asked to go.
In recent weeks, Buhari has moved to clear out corruption in the oil sector from previous administrations. Last month, Buhari disbanded the state oil company’s entire corporate board amid rampant allegations of theft.
The Nigerian National Petroleum Corporation has been increasingly withholding staggering sums of money from the Nigerian treasury and oil sale practices have worsened, an international governance watchdog claimed in a report released on Tuesday.
Ahead of his presidential trip to the United States last month, Buhari asked U.S. President Barack Obama to help locate and retrieve the “mind-boggling” amount of lost oil funds.