The Nigerian National Petroleum Company Limited (NNPC) has firmly denied reports suggesting that it has ceased importing refined petroleum products, labelling the claims as inaccurate and misleading.
The clarification comes in response to a recent story asserting that the NNPC had stopped fuel imports and was now exclusively sourcing refined products from local refineries, including the Dangote Petroleum Refinery. The report had cited remarks by the Group Chief Executive Officer of NNPC, Mele Kyari, during a conference held by the Nigerian Association of Petroleum Explorationists in Lagos. The event’s theme was “Resolving the Nigerian Energy Trilemma: Energy Security, Sustainable Growth, and Affordability.”
In a statement issued by Femi Soneye, Chief Corporate Communications Officer, NNPC clarified that Kyari’s comments were misinterpreted. “The GCEO’s statement, Today, NNPC does not import any product; we are only taking from domestic refineries, was taken out of context,” the statement read. It further emphasised that Mr Kyari’s remarks should not be seen as an indication that NNPC Ltd. is obligated to rely solely on local refineries or that it has permanently ended fuel importation.
Mr Soneye explained that while the NNPC prioritises sourcing refined products from domestic refineries when economically viable, the company retains the option to import as needed. “If local supply is cost-effective, it will be preferred, but the same principle applies to other marketers, who will also evaluate total costs when deciding whether to buy locally or import,” he said.
He highlighted that economic factors will guide the company’s decisions on sourcing refined petroleum, stressing that at no point in Kyari’s speech was there a declaration of an end to fuel importation. Additionally, he dismissed the report’s reference to a N24 trillion figure, clarifying that it was not mentioned by Mr Kyari.
Mr Soneye also pointed out that the authority to issue import licences does not rest with NNPC, but rather with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as established by the Petroleum Industry Act (PIA).
NNPC’s statement underscores its flexibility in sourcing refined products, affirming its commitment to balancing economic viability with supply needs. The company remains open to both local and international options, depending on cost efficiency and market conditions, ensuring the country’s energy demands are met effectively.
