Nigeria: NNPC to Acquire Equity in 6 Private Refineries

The Nigerian National Petroleum Corporation (NNPC) has revealed that it is currently considering equity participation in a number of private refineries in the country.

The NNPC in a statement last night said the move is in line with a Federal Government's policy directive, which stipulates the mandatory participation of the Corporation in any privately-owned refinery that exceeds 50,000 barrels per day capacity in keeping with its statutory role of safeguarding national energy security.

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