The Nigerian National Petroleum Company Limited (NNPC) has refuted claims of ceasing fuel imports, labeling such reports as misleading. Responding to an article quoting its Group CEO, Mele Kyari, the NNPC clarified that his statement about sourcing from domestic refineries was misinterpreted. NNPC prioritizes local refining when cost-effective but remains flexible to import if necessary. The company emphasized that economic viability guides its decisions and that it does not hold exclusive rights to source from local refineries. Additionally, granting import licenses falls under the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as per the Petroleum Industry Act (PIA). NNPC highlighted its less-than-30% market share in a deregulated sector, stressing that competition, not mandates, drives efficiency, benefiting consumers through fair pricing and value.
