The Nigerian National Petroleum Corporation, NNPC, on Thursday explained said it downsized its workforce by pruning the top management staff from 122 to 83 in order to save cost.

The new Group Managing Director, Emmanuel Kachikwu, had announced that the corporation’s operational directorates had been cut down from eight to four, with new Group Executive Directors (GEDs) appointed to take charge, while 38 others were asked to proceed on their retirements.

The former eight directorates included Exploration & Production; Refineries & Petrochemical; Engineering and Technical; Gas & Power; Commercial & Investment; Corporate Services; Finance & Accounts, and Business Development.

Under the new arrangement, the four new directorates headed by Group Executive Directors (GEDs) include Exploration & Production, led by Maikanti Baru; Finance & Services (Isiaka Abdulrazaq); Refining & Technology (Dennis Ajulu), and Commercial & Investment (Babatunde Adeniran).

Mr. Kachikwu had explained that the reduction in the number of the corporation’s management staff was in line with the Federal Government’s aspiration to transform it into a lean, efficient, business-focused, transparent and accountable national oil company, NOC, in keeping with international best practices.

Read More: premiumtimesng