NNPC Limited Is Owned By Over 200 Million Nigerians, We Remain Committed To Nigeria’s Growth—Mele Kyari

<h4>NNPC Limited Is Owned By Over 200 Million Nigerians<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that the Group Chief Executive Officer of NNPC Limited&comma; Mr&period; Mele Kyari has said the company has not breached any of the enabling laws guiding its dealings with partners&comma; hence should be counted out of any claims of economic sabotage&period;<&sol;p>&NewLine;<p>This is contained in a statement signed by Olufemi Soneye&comma; Chief Corporate Communications Officer&comma; NNPC Ltd and made available to OpenLife<&sol;p>&NewLine;<p>According to the statement&comma; Kyari&comma; who was addressing the Senate Ad-Hoc Committee investigating alleged economic sabotage in the Nigeria Petroleum Industry at the National Assembly on Wednesday&comma; stated that refining business is a straightforward business which any investor should know before coming into the market&period;<&sol;p>&NewLine;<p><em><strong>&OpenCurlyDoubleQuote;Refining business is a straightforward business&period; You must secure &lpar;a source for&rpar; your feedstock and you must find a market&period; <&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong>&&num;8220&semi;This is basic and this determines what happens in any refinery anywhere in the world&period; That is the business of refining&period; We have done nothing to sabotage any domestic refinery&comma;”<&sol;strong><&sol;em> Kyari stated&period;<&sol;p>&NewLine;<p>According to the GCEO&comma; the law is very clear on domestic crude oil supply obligation and also on providing for local refineries&period; However&comma; Kyari added&comma; the same law also said that there must be a willing buyer and a willing seller&period;<&sol;p>&NewLine;<p>On alleged importation of sub-standard products into the country&comma; Kyari said the NNPC Limited has nothing to do with that as the relevant regulatory agencies will&comma; by law&comma; not allow any sub-standard product into the country&period;<&sol;p>&NewLine;<p>The GCEO also supported calls for the Ad-hoc Committee to beam the interactive sessions live on national television to prevent misinforming Nigerians&period;<&sol;p>&NewLine;<p>He explained that there is enough infrastructure to produce two million barrels of crude per day but the challenges of crude oil theft&comma; pipeline vandalism and absence of investment in the upstream are the major factors hindering the sector&period;<&sol;p>&NewLine;<p>He said as a company owned by the over 200 million Nigerians&comma; the NNPC Limited has grown from a loss-making position to a profit-making entity&period;<&sol;p>&NewLine;<p>While pledging full co-operation towards the Committee in its efforts to unravel the allegations being investigated&comma; Kyari said the NNPC Limited&comma; its entire board&comma; management and staff remain loyal&comma; faithful and committed to Nigeria and will continue to act in line with the provisions of the Petroleum Industry Act &lpar;PIA&rpar;&comma; the Company &amp&semi; Allied Matters Act <a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">&lpar;CAMA&rpar;<&sol;a> and other enabling laws and regulations governing the nation’s energy Industry&period;<&sol;p>&NewLine;<p><em><strong>&OpenCurlyDoubleQuote;We are faithful&comma; loyal and committed to the progress and development of this country&period; It is our duty to protect the overall interest of this great nation&period; We are not in breach of any rules&comma;”<&sol;strong><&sol;em> Kyari concluded&period;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;24394" aria-describedby&equals;"caption-attachment-24394" style&equals;"width&colon; 300px" class&equals;"wp-caption alignnone"><img class&equals;"size-medium wp-image-24394" src&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;wp-content&sol;uploads&sol;2024&sol;03&sol;NNPC-300x137&period;jpg" alt&equals;"NNPC Limited Is Owned By Over 200 Million Nigerians&comma; We Remain Committed To Nigeria’s Growth---Mele Kyari" width&equals;"300" height&equals;"137" &sol;><figcaption id&equals;"caption-attachment-24394" class&equals;"wp-caption-text"><em><strong>NNPC Limited<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;