The Nigerian National Petroleum Company (NNPC) Limited has dismissed reports suggesting that it has halted fuel imports and is exclusively sourcing refined petroleum products from local refineries, including the Dangote Petroleum Refinery. The claim, which was attributed to NNPC’s Group Chief Executive Officer (GCEO), Mele Kyari, was published by a national newspaper (as reported by Daily Trust) on Tuesday.
In a statement, NNPC’s Chief Corporate Communications Officer, Femi Soneye, clarified that while Kyari’s statement was quoted correctly, the interpretation of the comments was misleading. The GCEO had remarked at the Nigerian Association of Petroleum Explorationists (NAPE) conference in Lagos that NNPC no longer imports fuel, sourcing solely from domestic refineries. However, Soneye emphasized that this should not be understood to mean an end to fuel imports altogether.
Soneye explained that NNPC’s focus on sourcing from local refineries depends on the economic viability of such products. If local supply is cost-effective, it will be prioritized. However, if importing refined products proves more economical, the company will consider it, just as other marketers do.
The NNPC also clarified that the authority to grant fuel import licenses lies with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and not NNPC. According to the Petroleum Industry Act (PIA), NNPC controls less than 30% of the market to promote competition and avoid monopolies.
Soneye expressed concern about the publication of misleading information, urging media outlets to verify facts, especially when reporting on sensitive national issues such as energy security. He stressed that misleading narratives could erode public trust in both the media and institutions involved.
In addition to the clarification on fuel imports, NNPC reiterated its ongoing investments in Compressed Natural Gas (CNG) infrastructure, an essential part of its energy security strategy.
SOURCE: GistMedia10