11Plc To Boost Productivity With New Manpower Sourcing Strategy

The management of 11Plc (formerly, Mobil Oil Nigeria Plc) has effected some changes in its manpower sourcing in a bid to shore up service delivery to stakeholders .
In the renewed move, employees engaged by former manpower firm would be absorbed by the new vendor in spite of the ongoing changes.
Any entitlement due to the affected employees of the old vendor will be settled by the old vendor in line with their terms and conditions of their employment, the firm said.
11Plc reaffirmed that all it’s valued service providers and their employees will be competitively compensated.
Management remains committed to ensuring that all service providers are supported to boost productivity levels in the company. 11 PLC, formerly known as Mobil Oil Nigeria Plc, is the result of NIPCO’s acquisition of ExxonMobil’s stake in Mobil Oil Nigeria.
This N90 billion deal saw NIPCO acquire a 60 per cent equity stake in Mobil Oil Nigeria, leading to the company’s rebranding as 11 Plc.
The name change was formalised after a board resolution and approval from shareholders at the Annual General Meeting, according to a statement from 11 Plc.
The Nigerian Stock Exchange (NSE) also effected the change, with the company now trading under the new name.
The NIPCO, an indigenous Nigerian downstream oil and gas company, acquired ExxonMobil’s 60 per cent stake in Mobil Oil Nigeria.As part of the acquisition, Mobil Oil Nigeria was renamed 11 Plc. While the company name changed, the Mobil brand, including its products like lubricants, will be retained.