Thursday, November 30, 2023


Voluntary retirement: NNPC offers exit packages to ‘500’ employees

Voluntary retirement: NNPC offers exit packages to ‘500’ employees
July 26
13:23 2022

The Nigerian National Petroleum Company Limited (NNPCL) has reportedly offered a “tempting” package for workers willing to accept voluntary retirement.

A week ago, President Muhammadu Buhari unveiled the NNPC Limited, positioning it to operate as a profit-oriented company.

On the sidelines of the event, Mele Kyari, group chief executive officer (GCEO) of the company, had assured that none of the 7,000 workers would be sacked, emphasising that the Petroleum Industry Act (PIA) did not prescribe such a measure.

“We do not have a bloated workforce. Today, the company’s workers population is just 7,000. I believe with the expansion, we have a line of sight, we are going to hire more people to work for us,” Kyari had said.


“The law has also provided that no one is going to leave this company. Everybody’s work is preserved. Their benefits are preserved. So, no matter for concern for the workers of this company.” 

But according to a ThisDay report, the NNPC Limited’s offer may affect as many as 500 employees, adding that many workers have received the email and accepted the offer. 

The report added that it would affect employees who have been officially confirmed or are unable to carry out their functions effectively and those who set to retire between 2022 and 2024.


Apart from what has been described as a “juicy package”, the report said those who are affected are said to be entitled to 50 percent payment of their salaries until the time they are naturally expected to exit the company. 

However, it said some of the management staff of NNPC Limited affected — especially some of the general managers and group general managers — kicked against it. 

Confirming the development, a top source at the NNPCL told TheCable that the offer was termed ‘willful’, and it was in accordance with global best practices for companies.

He added that the “Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) would have raised the flag” if the company was contravening the provisions of the PIA.


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