The Nigerian National Petroleum Company (NNPC) Limited has begun an early retirement programme for select categories of staff, with more than 70 per cent of eligible employees already indicating willingness to participate.
The exercise, run under the Accelerated Exit Scheme (AES) and Voluntary Exit Scheme (VES), is part of a broader workforce restructuring aimed at improving operational efficiency and creating room for younger professionals.
Company officials, speaking anonymously to The PUNCH, stressed that participation is entirely voluntary and no employee is being pressured to leave.
The AES targets staff with up to one year left before retirement in 2026, while the VES covers workers due for statutory retirement in 2027 and SS1-grade employees with two to five years left before retirement between 2028 and 2030.
The clarification follows concerns in some quarters that workers might be under pressure to exit the company. Last month, NNPC Group Chief Executive Officer Bashir Ojulari told staff in an internal memo that the schemes form part of a wider transformation drive.
“Over the past year, we began an important recalibration of our organisation as part of our broader transformation,” Ojulari said, adding that the programmes were designed to “responsibly manage workforce transitions while creating the right conditions for organisational renewal and long-term sustainability.”
A senior NNPC official explained that the scheme is open to staff nearing retirement and offers an enhanced exit package to those who opt in early.
“It is voluntary. If a worker decides to leave early, there is a package he or she gets… Nobody is being forced to leave,” the official said, noting that employees who decline the offer face no consequences.
Another source described the arrangement as mutually beneficial, allowing workers to exit on better terms while giving the company room to recruit younger talent and, where needed, experienced hires.
On the level of uptake, an official said more than 70 per cent of eligible staff have shown interest, calling the scheme “currently a success.” The source dismissed suggestions that specific individuals were being targeted, noting that similar exercises have been carried out by NNPC and other organisations in the past, often every few years.
Officials added that the company recruited over 1,000 new employees last year, and the exit scheme would further open up space for career progression and fresh recruitment.
NNPC has been undergoing major reforms since its transition to a limited liability company under the Petroleum Industry Act, with its transformation agenda focused on boosting efficiency, attracting talent, and positioning the company to compete globally.
READ ALSO:
- Falz Alleges Government Backed Counter-Protesters During #EndInsecurity Demonstration
- Oyo Declares June 16 Public Holiday for Islamic New Year Celebration
- Court Orders INEC To Deregister ADC, Accord, Three Others Over Poor Performance
- NYSC Postpones 2026 Batch B Orientation in Niger Over Camp Renovation
- DJ Cuppy Says She Cannot Marry a Nigerian, Reveals Why
