Kachukwu denies reports govt would sell refineries, NNPC

*Hints on signing PGIB in June

The Minister of States for Petroleum Resources, Ibe Kachikwu, has dispelled reports that the federal government is willing to sell off its stake in the refineries, including the Nigerian National Petroleum Corporation, NNPC.

He revealed this during the ongoing African Petroleum Producers Organisation, APPO in Cape VII, Equatorial Guinea.

According to him, there are no government policies to sell the NNPC and the refineries.

“I will consider a review of PSCs and (in regard to joint ventures) there is no government policy to sell NNPC interests,” he said.

Nigeria’s four refineries are cited in Port Harcourt, Kaduna and Warri.

He hinted on the possibility that the Petroleum Governance Industry Bill, PGIB may be signed by the Presidency before the end of June 2019 when the 9th National Assembly would have convened.

He added that however if President Buhari returns the Bill to the National Assembly as he had done in the past, it may become uncertain when the PIB will be passed into law.

SOURCE: sweetcrudereports.com