The Nigeria National Petroleum Company (NNPC) Ltd. has unequivocally denied any intentions of relocating its headquarters from Abuja to Lagos.
The clarification came directly from Mr. Mele Kyari, the Group Chief Executive Officer (GCEO) of NNPC, during an investigative hearing by the ad hoc committee on the acquisition of OVH Energy by NNPCL.
Kyari refuted the speculations raised in a petition, emphasizing that despite the company’s transition to a private entity registered with the Corporate Affairs Commission, there were no imminent plans to change its headquarters’ location.
He attributed the misconception to the fact that a significant portion (70 percent) of NNPC’s operations currently operate from Lagos, but he stressed that shifting the headquarters would only result in unnecessary additional costs.
Kyari pointed out that NNPC Ltd. had streamlined its operations, ensuring that the right personnel were strategically placed where they were most needed.
He clarified that the registered headquarters remained in Abuja and that his physical presence with the operations staff in Lagos did not imply a permanent relocation.
Addressing those making the relocation allegations, Kyari noted that such resistance often accompanied merger and acquisition processes worldwide.
He stated, “The company cannot keep them where they are not needed; this is what the petitions are all about.”
Kyari emphasized the importance of maintaining the dominant culture in any merger and acquisition, particularly the commitment to service. He reassured that NNPC Ltd. was taking measures to minimize any negative impacts, with the ultimate goal of creating value.
Discussing the retention of expatriates, Kyari underscored their significance, stating that no national oil company of limited liability could do without them.
He revealed that it required extensive engagement efforts to persuade expatriates to stay, emphasizing the value they bring to the company.
Kyari concluded by expressing the need for NNPC Ltd. to be an oil company with which international partners could effectively engage.
He emphasized the importance of including expatriates in the company’s workforce.
In response to the GCEO’s statements, Rep. Hassan Na’laraba, Chairman of the committee, commended Kyari for providing clarity on the matter.
He emphasized that the committee’s focus was on addressing issues to combat corruption and suggested the possibility of inviting Kyari for further clarification as they prepared to submit their report.
An interface with the GCEO during the oversight process was also considered.