In a recent statement, Minister of State Petroleum Resources, Heineken Lokpobiri, debunked claims that he instructed the Nigerian National Petroleum Company Limited (NNPCL) to halt operations at its refineries and instead focus on equity participation in other refineries.
This clarification comes after the Director of Upstream in the Ministry of Petroleum Resources, Engr. Kamoru Busari allegedly made the statement while representing Lokpobiri at an event in Lagos.
Lokpobiri emphasized that NNPCL operates independently, governed by the Companies and Allied Matters Act (CAMA), with its own functional board and management. The Ministry of Petroleum Resources provides strategic guidance without interfering in the company’s operations.
The minister reaffirmed the government’s commitment to promoting in-country refining, encouraging companies, including NNPCL, to operate independently and follow global best practices.
Lokpobiri also underscored the importance of supporting NNPCL’s growth and independence, ensuring efficiency, transparency, and profitability.
This development follows previous reports of NNPCL’s refinery renovations, with Lokpobiri stating that the company is responsible for the timely renovation of state-owned refineries. The minister had earlier outlined plans to increase crude production, targeting nearly 2 million barrels per day by the end of the year.
