Early retirement scheme introduced by the Nigerian National Petroleum Company Limited (NNPCL) has now seen an unexpected wave of acceptance, as over 70 per cent of the company’s staff have applied for retirement.

The retirement initiative, structured under the Accelerated Exit Scheme and the Voluntary Exit Scheme, is being positioned by the company as a strategic and non-coercive reform designed to align its workforce with long-term transformation goals, improve efficiency and create space for younger professionals.

Ad >>>

The AES targets employees with up to one year left before retirement in 2026, while the VES covers staff due for statutory retirement in 2027, as well as SS1-grade employees with about two to five years remaining before retirement between 2028 and 2030.

According to the state firm, more than 70 per cent of eligible staff have indicated willingness to participate in the voluntary exit arrangement.

Using the official figures by the NNPC, which put its staff strength at 6,247 workers as at the last quarter of 2025, 70 per cent of this represents 4,373 personnel, which is said to be close to the number of male staff the company reported in Q4 2025 they had 5,044 males, which is about 80.7 per cent of the workforce.

While the company insists that no employee was being compelled to leave the organisation, one of the officials (unauthorised) disclosed that more than 70 per cent of workers eligible for the scheme had already indicated interest in taking advantage of the programme.

The clarification comes amid concerns in some quarters over the rationale behind the initiative and speculation that some categories of staff may be under pressure to exit the company.

Meanwhile, an internal communication from the Group Chief Executive Officer, Bashir Ojulari, to staff explained that the restructuring is part of a broader organisational recalibration currently underway at the national oil company.

“Over the past year, we began an important recalibration of our organisation as part of our broader transformation.

“As we build momentum on this journey, it is essential that our workforce continues to evolve in line with the future we are building,” Ojulari said.

He further clarified that the AES targets employees due for retirement by 2026, while the VES covers staff scheduled for statutory retirement in 2027, as well as employees on grade level SS1 expected to retire between 2028 and 2030.

“These programmes form part of our deliberate efforts to responsibly manage workforce transitions while creating the right conditions for organisational renewal and long-term sustainability,” he noted.

It would be recalled that the NNPC has earlier denied reports of 70,000 staff. The company’s spokesman said the corporation has “never at a point in its history maintained 70,000 staff strength”.

Other sources list however, as from 5,400 to 7,000, but the latest official employee data from NNPC Ltd puts it at 6,247 as of December 2025.

This covers NNPC Ltd + its 21 subsidiaries.

NNPC, which transitioned into a limited liability company under the Petroleum Industry Act, has in recent years pursued various reforms aimed at improving operational efficiency and positioning the national oil company to compete effectively with its international counterparts.

The latest voluntary retirement programme appears to align with that broader transformation agenda, with management insisting that participation remains a matter of personal choice rather than institutional compulsion.