The Nigerian National Petroleum Company(NNPC) Limited has advised the Dangote Refinery to independently secure its feedstock.
The NNPC emphasized the simplicity of the refining business, which involves obtaining raw materials and identifying a market.
This guidance was given by NNPC’s Group Chief Executive Officer, Mele Kyari, during a session with the Senate Ad-Hoc Committee investigating alleged economic sabotage within the Nigerian petroleum industry.
Kyari asserted that NNPC has adhered to all legal frameworks in its operations and should not be implicated in any claims of economic sabotage.
Kyari elaborated that while laws dictate domestic crude oil supply obligations to local refineries, the transactions fundamentally depend on mutual agreements between buyers and sellers.
In addressing the committee, Kyari highlighted the straightforward nature of the refining business, stating the importance of securing a source for feedstock and finding a market.
He also refuted allegations of NNPC’s involvement in importing sub-standard products, emphasizing that regulatory bodies would prevent such imports.
Supporting calls for transparency, Kyari endorsed live broadcasts of the committee’s sessions to curb misinformation and pledged NNPC’s cooperation with the investigation.
He also acknowledged challenges like crude oil theft, pipeline vandalism, and insufficient upstream investments.
Kyari reaffirmed NNPC Limited’s commitment to Nigeria, ensuring compliance with the Petroleum Industry Act and other relevant laws.
He assured that NNPC is dedicated to protecting the nation’s interests and operating within legal boundaries.
This statement follows remarks from Aliko Dangote, Chairman of the Dangote Group, who mentioned that international oil companies in Nigeria prefer to export crude oil for foreign exchange rather than supplying it to his refinery.
