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Minister of state for Petroleum Resources (oil), Heineken Lokpobiri, on Tuesday has adjusted a trending news .
News has itthat he charged the Nigerian National Petroleum Company Limited (NNPCL) to shelve running of its refineries and take equity in private refineries.
He however said
“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.
YOUNEWS understands that in the earlier report, Lokpobiri was represented at the maiden edition of Crude Oil Refiners Association of Nigeria ( COREN) Summit in Lagos.
The representative said, ” he maintained that the government has also detailed the modular refinery Committee to give concession to local bidders.
Nigeria’s four refineries with cumulative capacity of 445,000 barrels of crude oil daily has produced zero barrel in the last 24 years.
The last time Warri refinery produced a few barrels was in 1999, as private refineries are now striving with NNPCL taking 7.2 per cent stake in Dangote refinery.
Represented at the summit by Kamoru Busari, Director of upstream at the Ministry of Petroleum Resources, Lokpobiri declared that the government would ensure that deregulation is 100 per cent.
“We urge the state oil company to take equity in the other upcoming refineries rather than running refineries,” he said.
Stating that the government would upscale support for local refineries, the minister maintained that the federal government’s committee on modular refineries has been tasked to give concession to local bidders.”
The government, he said, “would ensure that downstrean deregulation is 100 per cent.”
