BREAKING: NNPCL Speaks On ‘Moving Headquarters To Lagos’

BREAKING: NNPCL Speaks On ‘Moving Headquarters To Lagos’

The Nigeria National Petroleum Company, NNPC, Ltd. has firmly denied any plans to relocate its headquarters from Abuja to Lagos.

Mele Kyari, the Group Chief Executive Officer, NNPC, addressed this matter during the investigative hearing of the ad hoc committee on the acquisition of OVH Energy by NNPCL on Friday.

He emphasized that, despite the company’s new status as a private entity registered with the Corporate Affairs Commission, there are no intentions to shift the headquarters to Lagos.

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Kyari clarified that the speculations may be stemming from the fact that a significant portion, approximately 70%, of the company’s operations are located in Lagos. He further pointed out that such a move would incur additional expenses for the company.

Kyari reassured that NNPC Ltd. has successfully streamlined its operations without the need for a physical relocation.

He pointed out that although he is often found working alongside the operations staff in Lagos, this does not signify a permanent move of the headquarters.

He explained that those making these claims may be resistant to change, a common challenge faced in mergers and acquisitions across the globe. To address this, the company has offered affected employees the option to resign if they are not open to adapting to the changes.

He stressed the importance of letting the prevailing organizational culture take precedence in any merger or acquisition, which is precisely what NNPC Ltd. is doing.

Kyari highlighted that, despite the inevitable challenges associated with mergers and acquisitions, concerted efforts are being made to minimize their impact. The company is committed to ensuring that the business continues to thrive and create value for stakeholders.