The NNPC, Ltd., the Nigerian National Petroleum Company, has refuted rumors that it intends to relocate its Abuja headquarters to Lagos.

The denial was given by Mele Kyari, the Group Chief Executive Officer of NNPC, at the ad hoc committee’s investigative hearing on the purchase of OVH Energy on Friday.

Mr. Kyari stated that despite the business’s current position as a private corporation registered with the Corporate Affairs Commission, it has no plans to relocate its headquarters to Lagos in contrast to the petitioners’ claim.

He said that shifting the headquarters would add to the company’s expenses and suggested that the allegation may be related to the fact that 70% of its activities were in Lagos.

He said that the NNPC Ltd. had integrated its activities and relocated the appropriate personnel to their new positions.

He asserts that NNPC Ltd.’s registered headquarters are in Abuja and that the presence of the GCEO among the operational employees does not indicate that the company has relocated to Lagos.

He said that people who made the accusations were doing so because they didn’t want to relocate; this is a problem with merger and acquisition all over the world, in his opinion. We have offered them the chance to quit.

“The petitions are about the company not being able to keep them where they are not needed.”

He said that in every merger and acquisition, the prevailing culture, like service, must be allowed to take over, and that the NNPC Ltd. was doing just that.

“Merger and acquisition presents difficulties, but we are reducing their effects since we need to run the firm.

“We are doing everything possible to ensure that it has no negative impact and we will ensure that it creates value,” he added.


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