The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has dismissed reports that directed the Nigerian National Petroleum Company Limited (NNPCL) to cease operating its refineries and focus solely on equity participation in other refineries as false.
In a statement released on Tuesday, Lokpobiri responded to comments made by Engineer Kamoru Busari, the Director of Upstream in the Ministry of Petroleum, who represented the minister at a recent conference in Lagos. The minister emphasized that the claims attributed to Busari do not reflect his position or the Federal Government’s stance.
Lokpobiri clarified, “My attention has been drawn to statements attributed to Engr. Kamoru Busari… I wish to categorically state that the claim that I directed the NNPCL to stop running its own refineries and focus solely on equity participation in other refineries is false.”
He further explained that NNPCL is governed under the Companies and Allied Matters Act (CAMA), with its own functional board and management. He stated that the Ministry of Petroleum Resources does not control or run NNPCL, which operates independently as a corporate entity.
The minister reiterated that the oil and gas sector is fully deregulated and that the Nigerian government is committed to promoting in-country refining. He encouraged companies, including NNPCL, to operate independently and adhere to global best practices while ensuring that their operations align with international standards for efficiency, transparency, and profitability.