…Says, govt does Not Control Or Run NNPCL
The Federal Government on Tuesday, October 8, 2024, said that the Federal Ministry of Petroleum Resources does not control or run the Nigerian National Petroleum Company Limited (NNPCL).
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, who stated this, explained that the NNPCL operates independently like any corporate entity.
He said that the oil and gas sector is fully deregulated, stressing that the Nigerian government remains committed to promoting in-country refining.
Lokpbiri, who stated these while reacting to claims that he directed the NNPCL to stop running its own refineries and focus solely on equity participation in other refineries, said that the statement credited to Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, who represented him at a recent conference in Lagos, was completely false.
In the words of Lokpobiri; “I wish to categorically state that the claim that I 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.
“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 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,” he said.
Find below the statement by Senator Heineken Lokpbi
Clarification on NNPCL Refinery Operations
My attention has been drawn to statements made by Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, who represented me at a recent conference in Lagos. I wish to categorically state that the claim that I 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. 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.
Sen. Heineken Lokpobiri Ph.D.
Minister of State Petroleum Resources (Oil)
