NNPC begins workforce reduction, over 70% of eligible staff opt for voluntary exit
By Aboki Forex —
The Nigerian National Petroleum Company Limited has started cutting its workforce. More than 70% of eligible employees have shown interest in the company's voluntary retirement schemes.
NNPC is using two programmes for this. They are the Accelerated Exit Scheme and the Voluntary Exit Scheme. The company says this is not a compulsory staff reduction. It is a voluntary plan to help workers nearing retirement and to bring in younger talent.
The Accelerated Exit Scheme is for employees due for retirement in 2026. The Voluntary Exit Scheme covers workers retiring in 2027. It also includes SS1-grade employees with two to five years left before retirement between 2028 and 2030.
A senior NNPC official said the scheme is part of a broader plan to improve efficiency and renew the workforce. The company aims to create room for new talent while supporting its transformation agenda.