The company clarified that while Mr Kyari’s words were accurately quoted, the article’s interpretation misrepresented the facts.
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The report quoted the NNPC’s Group Chief Executive Officer, Mele Kyari, who spoke at the Nigerian Association of Petroleum Explorationists conference in Lagos, themed: Resolving the Nigerian Energy Trilemma: Energy Security, Sustainable Growth and Affordability. “While NNPC prioritises sourcing products from domestic refineries, this is contingent upon economic viability. 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.
“The law promotes a free-market system where competition drives efficiency and cost reduction, ensuring that consumers benefit. Domestic refiners must compete on price and value, as patronage cannot be legislated in a deregulated sector,” he said.
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