Nigeria’s national oil firm, the Nigerian National Petroleum Corporation (NNPC) has noted that it had preserved its employees in the face of operative cost cuts, describing them as “our most critical assets”.
This was disclosed by the Group Managing Director of the Corporation, Mele Kyari, at the launch of the Francis Olabode Johnson Foundation in Abuja.
Kyari said that NNPC was the only national oil corporation that did not lay off its staff due to financial constraints occasioned by the COVID-19 pandemic.
He said that the corporation would continue to take deliberate steps towards “continued value realisation”.
“As we all know that the global oil and gas industry is going through complex transitions that require our collective resilience to survive,” he said.
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Kyari added, “The global business landscape is fast changing to accommodate the new normal advanced by the COVID-19 pandemic.
“In the associated business global space, there are many things that will never come back to normal, as we know them. This, of course, has an impact on everything including the oil industry.
“Corporations have responded and are still responding to these shifts with a variety of unpopular measures ranging from staff layoffs to salary cuts to keep costs as low as possible and survive in these difficult times we are in.
“The NNPC is definitely not immune from these global impacts and we have taken careful steps to align our business portfolios and operations to ensure continued value realisation, while deliberately preserving our employees as our most critical assets. As you all know in this industry, the NNPC is the only national oil company that did not consider layoffs as a result of COVID-19.”
He also disclosed that the corporation was “working on the policy that will regulate the operations of artisanal refineries in the Niger Delta. It will soon start.”
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