Lokpobiri denies directing NNPCL to stop operating refineries
Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri on Tuesday denied a statement that he directed Nigerian National Petroleum Company Limited (NNPCL) to stop running its own refineries and focus solely on equity participation in other refineries.
The Minister in a swift response to a statement made by Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, who represented him at a recent conference in Lagos, called the allegation false, stressing that it does not represent his position as Minister overseeing the oil sector, nor does it reflect the stance of the Federal Government.
He noted that, “It is important to clarify that NNPCL is a company governed under the Companies and Allied Matters Act (CAMA), with a functional board and management.
“The Ministry of Petroleum Resources does not control or run NNPCL, as it operates independently like any corporate entity.
“The oil and gas sector is fully deregulated, and the Nigerian government remains committed to promoting in-country refining. We encourage companies, including NNPCL, to operate independently, following global best practices.
“While we provide strategic guidance, we do not interfere directly in the operations of these companies.”
He, however, reaffirmed his commitment to supporting the growth and independence of NNPCL, ensuring that its operations are in line with international standards for efficiency and transparency and profitability.