By Udeme Akpan
THE Minister of State Petroleum Sources (Oil), Sen. Heineken Lokpobiri, mentioned he didn’t direct the Nigerian Nationwide Petroleum Firm Restricted, NNPCL, to cease working its refineries and focus solely on fairness participation in others.
Some media (not Vanguard) had reported that Engr. Kamoru Busari, Director of Upstream within the Ministry of Petroleum Sources, who represented him at an occasion in Lagos as stating that he directed the corporate to give attention to fairness participation in different refineries.
However in his press assertion, the Minister of State Petroleum Sources (Oil), said: “My consideration has been drawn to statements made by Engr. Kamoru Busari, Director of Upstream within the Ministry of Petroleum Sources, who represented me at a latest convention in Lagos.
“I want to categorically state that the declare that I directed the Nigerian Nationwide Petroleum Firm Restricted (NNPCL) to cease working its personal refineries and focus solely on fairness participation in different refineries is fake. This doesn’t symbolize my place as Minister overseeing the oil sector, nor does it mirror the stance of the Federal Authorities.
“It is very important make clear that NNPCL is an organization ruled underneath the Corporations and Allied Issues Act (CAMA), with a purposeful board and administration. The Ministry of Petroleum Sources doesn’t management or run NNPCL, because it operates independently like several company entity.
“The oil and fuel sector is totally deregulated, and the Nigerian authorities stays dedicated to selling in-country refining. We encourage firms, together with NNPCL, to function independently, following international finest practices. Whereas we offer strategic steering, we don’t intrude instantly within the operations of those firms.
“I reaffirm our dedication to supporting the expansion and independence of NNPCL, guaranteeing that its operations are consistent with worldwide requirements for effectivity and transparency and profitability.”