I DIDN'T DIRECT NNPCL TO STOP RUNNING ITS REFINERY - LOKPOBIRI CLARIFIES

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The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri has stated reports he directed the Nigerian National Petroleum Company Limited (NNPCL) to stop running its refineries and focus solely on equity participation in other refineries is false.

He made this known in a statement late Tuesday

Lokpobiri clarified that the viral statement does not represent him as the minister overseeing the oil sector, nor does it reflect the stance of the Federal Government.

He made this known in a statement late Tuesday.

Lokpobiri clarified that the viral statement does not represent him as the minister overseeing the oil sector, nor does it reflect the stance of the Federal Government.

“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.”

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