The Nigerian National Petroleum Company Limited (NNPC) has announced organizational changes involving the retirement of executives as part of a strategic renewal initiative.

In a statement, NNPC said the move aims to rejuvenate its workforce and scale up capabilities to achieve business objectives.

Effective September 19th, management staff with less than 15 months until statutory retirement will be exiting the company. This comes after NNPC also let go of three Executive Vice Presidents recently.

According to NNPC, the overhaul aligns with its commitment to targeted talent management and equal opportunities for Nigerians. It did not provide details on the number of affected executives.

The leadership shake-up follows the recent appointment of new EVPs to head NNPC’s upstream, downstream and gas operations.

As Nigeria’s state oil company, NNPC is looking to operate more efficiently and commercially in line with reform efforts. The impending retirement of late-career executives clears space for fresh talent to reposition NNPC for the future.