Home Politics Lokpobiri Denies Directing NNPCL to Cease Refinery Operations
Politics

Lokpobiri Denies Directing NNPCL to Cease Refinery Operations

Share
"Stop Misleading Public Against Lokpobiri', Group Cautions Nangi
Share

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri has refuted claims that he instructed the Nigerian National Petroleum Company Limited (NNPCL) to halt its refinery operations.

Lokpobiri’s clarification follows reports that Engr Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, who represented the minister at a recent event in Lagos, suggested that the company should focus on equity participation in other refineries.

He 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.

READ ALSO: ‘Wike Helped Me Become Petroleum Minister’ –  Lokpobiri

“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, transparency, and profitability.”

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Takeme Reaffirms Commitment to Sustenable Development in Burutu LG | Daily Report Nigeria
Politics

Takeme Reaffirms Commitment to Sustenable Development in Burutu LG

The Executive Chairman of Burutu Local Government Area in Delta State, Dr....

Wike Dispels Rumours of Collapse, Calls Out Political Opportunists | Daily Report Nigeria
Politics

Wike Dispels Rumours of Collapse, Calls Out Political Opportunists

Minister of the Federal Capital Territory, Nyesom Wike, has denied reports that...

Ighodalo Heads to Appeal Court as Tribunal Upholds Okpebholo's Victory | Daily Report Nigeria
Politics

Ighodalo Heads to Appeal Court as Tribunal Upholds Okpebholo’s Victory

The Edo State Governorship Election Petition Tribunal has upheld the election of...

Okpebholo and Ighodalo
Politics

Edo Election: Okpebholo Victorious as Tribunal Upholds Election, Discards PDP’s Petition

Okpebholo declared valid winner of the 2023 election by Abuja Tribunal. Tribunal...