News

NNPCL denies stopping fuel imports

Published

20 seconds ago

November 15, 2024

In response to a recent news report suggesting the Nigerian National Petroleum Company Limited (NNPCL) has ceased importing refined petroleum products, NNPCL has refuted the claim, calling it a misrepresentation of statements by Group Chief Executive Officer (GCEO) Mele Kyari.

The national newspaper report attributed statements to Kyari that reportedly signaled an end to fuel importation, asserting NNPCL was now solely sourcing from domestic refineries, including the Dangote Petroleum Refinery.

Kyari had addressed the Nigerian Association of Petroleum Explorationists (NAPE) conference in Lagos, where he spoke on “Resolving the Nigerian Energy Trilemma: Energy Security, Sustainable Growth and Affordability.” According to NNPCL’s Chief Corporate Communications Officer, Femi Soneye, while Kyari’s words were quoted correctly, the accompanying interpretation misrepresented the GCEO’s statements, leading to a “false narrative” on the status of fuel importation.

“While your report quotes the GCEO’s exact words in several instances, you have inserted interpretations that misrepresent the context and meaning of the statement. This misrepresentation has created a false narrative that deviates significantly from the facts,” Soneye said in a formal statement. He expressed disappointment over what he termed as the “infusion of incorrect assertions” and cautioned media outlets to exercise due diligence when reporting on sensitive national topics.

NNPCL emphasized that while the company prioritizes sourcing fuel from local refineries, this decision hinges on economic viability rather than an outright halt in importation. Soneye clarified, “The GCEO’s statement, ‘Today, NNPC does not import any product; we are only taking from domestic refineries,’ should not be construed to imply that NNPC Ltd. is obligated to be the sole off-taker of any refinery or that we will no longer import fuel.”

Soneye further noted that NNPCL’s fuel-sourcing decisions are guided by market costs and that other marketers also assess these factors when choosing between domestic supply and importation. He highlighted the Petroleum Industry Act (PIA), which grants import license authority to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and restricts NNPCL’s market control to 30%, preventing monopolistic practices and promoting competition.

He acknowledged the newspaper’s accurate coverage of NNPCL’s investments in Compressed Natural Gas (CNG) infrastructure aimed at bolstering energy security. However, he urged caution against further misrepresentations of Kyari’s statements, especially on topics with national security implications, stressing, “Misleading narratives undermine public trust and the integrity of your reputable newspaper.”

Soneye encouraged the media to seek clarifications when in doubt, stating, “A more cautious approach will benefit both your readership and the reputation of your publication.”