Base Pay and Employee Retention in Oil and Gas Firms in Akwa Ibom State, Nigeria

1Johnson; Asuquo Asuquo; 2S. I. Eneh PhD; 3Effiong; Grace Denis

doi:10.56201/ijebm.vol.12.no8.2026.pg93.102

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Base Pay and Employee Retention in Oil and Gas Firms in Akwa Ibom State, Nigeria

1Johnson, Asuquo Asuquo, 2S. I. Eneh PhD, 3Effiong, Grace Denis

Abstract

Employee retention has become a significant concern within contemporary human resource management because organizations depend increasingly on employees who possess specialized knowledge, technical competence, experience, and firm-specific capabilities. This empirical study examined the relationship between base pay and employee retention in selected oil and gas firms (Universal Energy Resources Limited, Monni Pulo Limited, and Network Exploration & Production Nigeria Limited) operating in Akwa Ibom State, Nigeria. The study operationalized base pay using four distinct dimensions: adequacy, equity, competitiveness, and predictability. Grounded in Equity and Expectancy theories, a survey research design was adopted. Structured questionnaires were administered to a stratified random sample of 169 employees across the selected firms. Data were analyzed using descriptive statistics and Ordinary Least Squares Multiple Regression via SPSS version 27. The empirical results revealed that base pay adequacy, equity, competitiveness, and predictability exert significant, positive, independent effects on employee retention intention (R2 = 0.658, p < 0.05). The study concludes that base pay is a strategic asset for curbing voluntary talent drain and recommends that oil and gas executives implement structurally fair, transparent, and timely base salary regimes to sustain institutional human capital.

Keywords

Base payemployee retentioncompensationpay equityoil and gas industryEquity TheoryExpectancy TheoryAkwa Ibom StateNigeria.

References

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Base Pay and Employee Retention in Oil and Gas Firms in Akwa Ibom State, Nigeria

Abstract

Keywords

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