Victor EzejaThe Nigerian National Petroleum Company (NNPC) Ltd. has laid off several senior employees as part of a major reorganisation of the management.
The affected senior officials are said to be closely associated with Mele Kyari, the immediate past Group Chief Executive Officer of NNPCL. Kyari was removed from office last month and Bayo Ojulari appointed to replace him.
Join our WhatsApp ChannelAccording to reports, some of the executives who were sacked include Bala Wunti, Chief Upstream Investment Officer, NNPCL Upstream Investment Services (NUIMS); Ibrahim Onoja, managing director of the Kaduna Refinery; and Lawal Sade, chief compliance officer and former MD of NNPC Trading.
This major shake-up, which comes one month after Tinubu appointed a new GCEO and members of the NNPCL board, has impacted over 200 employees across various levels, signalling the start of broader internal reforms within the national oil firm.
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The NNPCL Upstream Investment Services is the national oil firm’s investment management division. It also manages the Nigerian government’s equity holdings in joint ventures (JV), production sharing contract (PSC), and service contract (SC) businesses. It oversees the country’s investments in the upstream oil and gas sector.
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The Nigerian Petroleum Exchange (NipeX), an electronic platform for upstream contracting, is managed by NUIMS, a strong division of the business.
With the latest development, Maryam Idrisu has now taken over as Managing Director of NNPC Trading, the unit responsible for all crude oil transactions, while Obioma Abangwu is now Chief Liaison Officer for board matters.
Prime Business Africa recalls that President Bola Tinubu earlier in the month removed Kyari as the GCEO of NNPC, replacing him with Bayo Ojulari. The president also dissolved the NNPC board and appointed a new 11-member board led by Ahmadu Kida as non-executive chairman.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
