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Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has clarified the statement made on his behalf in directing the Nigerian National Petroleum Company Limited (NNPCL) to stop operating its refineries and focus solely on equity participation in other refineries.
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Lokpobiri, in a statement by the Director of Upstream in the Ministry of Petroleum Resources, Kamoru Busari, represented him at the Crude Oil Refinery-Owners Association of Nigeria (CORAN) summit in Lagos.
He stressed that the statement does not represent his position as the Minister overseeing the oil sector, nor does it reflect the stance of the Federal Government.
He further explained that NNPCL operates as a company governed by the Companies and Allied Matters Act (CAMA), with its functional board and management, emphasising that his ministry does not control or manage NNPCL, as it functions independently like any other corporate entity.
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“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, transparency, and profitability.”
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