The People’s Democratic Party (PDP) has told Nigerians to pay attention to Nigerian National Petroleum Corporation planned purchase of 20 percent shares in Dangote Refinery warning the President Muhammadu Buhari administration to ensure transparency in the planned purchase.
NNPC had announced it is considering equity participation in a number of private refineries.
Kennie Obateru, the spokesman, in a statement explained that the decision was in line with the Federal Government policy which mandates the NNPC to invest in facilities that exceed 50,000 barrels.
Related Articles
The NNPC assured the move to seek equity participation in the private refineries would not undercut its commitment to the rehabilitation of its own refineries and strengthen the domestic refining sector.
Ologbondiyan noted that the transaction must be made open, in terms of conditions for crude barter trade, duration, equity sharing, signatories among others,
The spokesman urged the National Assembly to take advantage of its oversight power on the NNPC to ensure that the deal followed due process.
