Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources, has refuted claims made by Engr. Kamoru Busari that he directed the Nigerian National Petroleum Company Limited (NNPCL) to cease operating its refineries.
Lokpobiri, in a press statement on Tuesday, October 8, 2024, and which he personally signed, emphasized that this assertion misrepresents his position and the Federal Government's stance.
He clarified that NNPCL operates independently under the Companies and Allied Matters Act, with a commitment to promoting in-country refining and adhering to global best practices.
The minister reaffirmed support for NNPCL’s growth and operational independence.
Below is full text of the press statement:
“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).”
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