The Nigerian National Petroleum Company Limited (NNPC) has dismissed several top officials just 27 days after the exit of its former Group Chief Executive Officer (GCEO), Mele Kyari, in what appears to be a sweeping restructuring of the national oil company.
Key Departures:
- Bala Wunti, Chief Upstream Investment Officer of NNPC Upstream Investment Services (NUIMS)
- Ibrahim Onoja, Managing Director of Kaduna Refinery
- Lawal Sade, Chief Compliance Officer and former Managing Director of NNPC Trading
Wunti, who was one of Kyari’s closest associates, headed NUIMS—the investment management arm overseeing the government’s equity in upstream ventures including Joint Ventures (JVs), Production Sharing Contracts (PSCs), and Service Contracts (SCs). NUIMS is also responsible for managing Nigerian Petroleum Exchange (NipeX), a vital electronic contracting platform in the upstream sector.
Broader Impact:
In addition to these top executives, over 200 other employees across various levels were affected in the shake-up, which reportedly involved:
- Early retirement for employees with around 18 months left in service
- Lump sum payments to some staff who opted for voluntary exit
- Promotion of other personnel to fill key vacant positions
New Appointments:
- Maryam Idrisu appointed as Managing Director of NNPC Trading, overseeing crude oil transactions
- Obioma Abangwu appointed as Chief Liaison Officer for board matters
Context and Speculation:
Though sources labeled the restructuring as “routine,” there is speculation that some dismissals were linked to the executives’ close ties with Kyari, who was relieved of his position earlier this month.
The last major purge of this magnitude occurred in September 2023 during another round of restructuring focused on enhancing talent management and improving operational efficiency. At the time, NNPC stated that only employees with less than 15 months to retirement were affected.
What’s Next:
The current restructuring is part of an ongoing effort to reshape the company’s leadership and align its operations with broader industry reforms.
