Lagos Conference: I Never Said NNPCL Should Stop Running Its Own Refineries And Focus Solely On Equity Participation—Minister Of State, Petroleum Resources

<h4>Lagos Conference<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reproduces a statement signed Senator Heineken Lokpobiri&comma; Minister of State Petroleum Resources &lpar;Oil&rpar;&comma; in which he clarified a misleading statement credited to him in a Lagos conference<&sol;p>&NewLine;<p>Titled Clarification on NNPCL Refinery Operations Senator Heineken Lokpobiri said&colon;<&sol;p>&NewLine;<p><em><strong>My attention has been drawn to statements made by Engineer Kamoru Busari&comma; Director of Upstream in the Ministry of Petroleum Resources&comma; who represented me at a recent conference in Lagos&period;<&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong>I wish to categorically state that the claim that I directed the Nigerian National Petroleum Company Limited &lpar;NNPCL&rpar; to stop running its own refineries and focus solely on equity participation in other refineries is false&period; <&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong>This does not represent my position as Minister overseeing the oil sector&comma; nor does it reflect the stance of the Federal Government&period;<&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong>It is important to clarify that NNPCL is a company governed under the Companies and Allied Matters Act &lpar;CAMA&rpar;&comma; with a functional board and management&period; <&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong>The Ministry of Petroleum Resources does not control or run <a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">NNPCL&comma;<&sol;a> as it operates independently like any corporate entity&period;<&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong>The oil and gas sector is fully deregulated&comma; and the Nigerian government remains committed to promoting in-country refining&period; <&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong>We encourage companies&comma; including NNPCL&comma; to operate independently&comma; following global best practices&period; While we provide strategic guidance&comma; we do not interfere directly in the operations of these companies&period;<&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong>I reaffirm our commitment to supporting the growth and independence of NNPCL&comma; ensuring that its operations are in line with international standards for efficiency and transparency and profitability&period;<&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong>Sen&period; Heineken Lokpobiri Ph&period;D&period;<&sol;strong><&sol;em><br &sol;>&NewLine;<em><strong>Minister of State Petroleum Resources &lpar;Oil&rpar;<&sol;strong><&sol;em><&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;