The Nigerian National Petroleum Corporation has insisted on acquiring equity in six private refineries being built in the country.
Spokesman of the NNPC, Kennie Obateru, stated on Monday that the move was in line with Federal Government’s policy direction.
He added that getting stakes in them was key to national energy security.
According to him, the directive stipulates the mandatory participation of NNPC in any private refinery that exceeds 50,000 barrels per day capacity in keeping with its statutory role of safeguarding national energy security.
“In this regard, the corporation has identified at least six refinery projects in which it intends to seek equity participation, five of them are at he development stage, with the Dangote Refinery being the largest of them,” he said
Obateru explained that the corporation, being a national oil company, primarily has a dual role of providing stewardship for the country’s hydrocarbon resources and adding value to the resources for the benefit of Nigerians and other stakeholders.
