- He emphasized that the NNPCL is an independent entity governed under the Companies and Allied Matters Act (CAMA), and the Ministry of Petroleum Resources does not control or run its operations
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has dismissed claims that he directed the Nigerian National Petroleum Company Limited (NNPCL) to halt the operation of its refineries and instead focus solely on equity participation in other refineries.
In a statement personally signed by the minister on Tuesday, Lokpobiri clarified that the claims attributed to the Director of Upstream in the Ministry of Petroleum Resources, Engr. Kamoru Busari—who represented him at a recent conference in Lagos—were false and do not reflect his position or that of the Federal Government.
“My attention has been drawn to statements attributed to Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, who represented me at a recent conference in Lagos,” Lokpobiri said. “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.”
He emphasized that the NNPCL is an independent entity governed under the Companies and Allied Matters Act (CAMA), and the Ministry of Petroleum Resources does not control or run its operations.
“It is important to clarify that NNPCL is a company governed under 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,” he stated.
Lokpobiri further reiterated the Federal Government’s commitment to promoting in-country refining and supporting the independence of companies operating in the oil and gas sector, including the NNPCL. He pointed out that the oil and gas sector is fully deregulated, and the government only provides strategic guidance, while companies are encouraged to follow global best practices.
“The Nigerian government remains committed to promoting in-country refining. We encourage companies, including NNPCL, to operate independently and follow global best practices. While we provide strategic guidance, we do not interfere directly in the operations of these companies,” the minister noted.
Lokpobiri reaffirmed his commitment to supporting the growth and independence of NNPCL, ensuring that its operations are in line with international standards for efficiency, transparency, and profitability.