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October 9, 2024 I Didn’t Instruct NNPCL to Halt Refinery Operations — Oil Minister

The Minister of State for Petroleum Resources, Heineken Lokpobiri, has clarified that he did not instruct the Nigerian National Petroleum Company Limited (NNPCL) to cease operations at its refineries.

This statement comes after reports emerged from an event in Lagos, where Engr. Kamoru Busari, the Director of Upstream in the Ministry of Petroleum Resources, suggested that Lokpobiri had directed NNPCL to concentrate on equity participation in other refineries.

Lokpobiri stated, “I have been made aware of comments made by Engr. Kamoru Busari, who represented me at a recent conference in Lagos. I want to categorically clarify that the assertion that I directed NNPCL to stop operating its own refineries and focus solely on equity participation in other refineries is false. This does not reflect my position as the Minister overseeing the oil sector or the Federal Government's stance."

He further emphasized that NNPCL operates under the Companies and Allied Matters Act (CAMA), with its own functional board and management. The Ministry of Petroleum Resources does not control or manage NNPCL, which functions independently like any corporate entity.

“The oil and gas sector is fully deregulated, and the Nigerian government is committed to promoting domestic refining. We encourage companies, including NNPCL, to operate independently and adhere to global best practices. While we provide strategic guidance, we do not directly interfere in the operations of these companies,” he added.

READ ALSO: NNPCL Announces Another Fuel Pump Price Increase

Lokpobiri reaffirmed his commitment to supporting the growth and independence of NNPCL, ensuring that its operations align with international standards for efficiency, transparency, and profitability.

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