ASSESSING CRITICAL SUCCESS FACTORS FOR CHANGE MANAGEMENT OF THE PETROLEUM INDUSTRY ACT: THE STAKEHOLDERRELATIONSHIP MANAGEMENT OF THE NNPC LIMITED MODEL

Abstract

The Federal Government of Nigeria Signed the Petroleum industry Act (PIA) 2021 into law. The concern by developed economies for climate change and alternative sources through the energy mix has fueled aggressive efforts to reduce global consumption of fossil fuels leading to divestment by major industry players like Royal Dutch Shell. Therefore, the PIA represents Nigeria's effort to acknowledge the changing environment. The petroleum industry adopted a change management approach to effectively harness the act's potential. Using a literature review, the study aims to assess the critical success factors for adopting change management of the petroleum industry stakeholders to implement the transition program. Using the theoretical lens of complex systems theory to assess change management. These complexities make the oil and gas industry environment somewhat disorganized and complex. When complexity occurs, we need tools and concepts to redirect attention and energy efficiently. The study posits that when accessing the critical success factors of the transition program f the PIA, It is essential that NNPC Ltd leaders publicly show commitment to the change to send a powerful message to external stakeholders about the seriousness of implementing the change. The study further recommends changing the work processes to reduce costs, optimize the performance of its industrial base assets and improve its environmental footprint. Access to technology by stakeholders enables the integration of the change process at speed. Keywords: change management; change implementation; critical success factor; organizational change; Petroleum Industry