Minister Debunks Claim Of Asking NNPCL To Stop Running Own Refineries
LAGOS OCTOBER 9TH (NEWSRANGERS)-Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri Ph.D. has denied report making the rounds that he directed the Nigerian National Petroleum Company Limited (NNPCL) to stop running its own refineries and focus solely on equity participation in other refineries.
A statement signed by the Minister sighted by NewsRangers denied statements made by Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, who represented him at a recent conference in Lagos.
He disclosed that the claim that he directed the Nigerian National Petroleum Company Limited (NNPCL) to stop running its own refineries and focus solely on equity participation in other refineries is false.
According to him, “This does not represent my position as Minister overseeing the oil sector, nor does it reflect the stance of the Federal Government.
“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.
“I reaffirm our 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.”
For media advert placement, events coverage, media consultancy, placement of publications and further inquiries please WhatsApp 2348023773039 or email: labakevwe@yahoo.com
Short URL: https://newsrangers.com/?p=128527
Posted by News Rangers
on Oct 9 2024. Filed under Business, National.
You can follow any responses to this entry through the RSS 2.0.
You can leave a response or trackback to this entry
