Lokpobiri Dennies stopping NNPCL

[keypoints]

• Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, denied directing NNPCL to cease refinery operations, clarifying that NNPCL operates independently under the Companies and Allied Matters Act (CAMA).
• The Ministry of Petroleum Resources offers strategic guidance but does not interfere in NNPCL’s management or operations.
• Lokpobiri reaffirmed the Nigerian government’s commitment to in-country refining, with NNPCL set to produce 1.8 million litres of PMS from the Port Harcourt refinery.

[/keypoints]

Lokpobiri Dennies stopping NNPCL

Minister of State Petroleum Resources, Sen. Heineken Lokpobiri, has denied directing the Nigerian National Petroleum Company Limited (NNPCL) to stop running its refineries and focus solely on equity participation in others.

This clarification comes after some media outlets reported that Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources, made such statements while representing the Minister at an event in Lagos.

Lokpobiri emphasised that NNPCL operates independently as a corporate entity under the Companies and Allied Matters Act (CAMA), with its own functional board and management.

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The Ministry of Petroleum Resources provides strategic guidance without interfering in the company’s operations

The Nigerian government remains committed to promoting in-country refining, encouraging companies like NNPCL to operate independently following global best practices. NNPCL is set to produce 1.8 million litres of PMS from its Port Harcourt refinery complex