The Nigerian National Petroleum Company Limited (NNPC Ltd) has said that it holds former President Olusegun Obasanjo in high esteem.
It also said that the dedication of the ex-President to national development and his right to speak on matters of national importance are both deeply respected.
Chief Corporate Communications Officer, NNPC Ltd, Mr. Olufemi Soneye, while responding to enquiries from a section of the media to Obasanjo’s recent comment yesterday also highlighted the remarkable transformation of the Company.
He stated that currently Nigerian National Petroleum Corporation (NNPC) has evolved into NNPC Ltd, a private entity that has transitioned from being a loss-making organisation to becoming a profit-oriented global energy leader.
Obasanjo, who was Nigeria’s military Head of State between February 1976 and October 1979 and Nigeria’s democratically elected President between May 1999 and May 2007, had during a recent interview with Channels Television recounted how the NNPC rejected a $750 million offer by billionaire business tycoon, Aliko Dangote, to manage the Port Harcourt and Kaduna refineries back in 2007.
He said the NNPC knew that it lacked the capacity to run the national refineries yet rejected Dangote’s offer. Obasanjo said: “Aliko got a team together and they paid $750 million to take part in PPP (Public–Private Partnership) in running the refineries.
My succes- sor (late former President Umaru Yar’Adua) refunded their money and I went to my successor and told him what transpired. He said NNPC said they wanted the refineries and they could run it.
I now said ‘but you know they cannot run it’.” But Soneye in his reaction said NNPC Ltd had recorded landmark breakthroughs and achievements.
He said: “We hold President Olusegun Obasanjo in the highest regard as a respected statesman who has made significant contributions to the growth and progress of Nigeria.
His dedication to national development and his right to speak on matters of national importance are both deeply respected. “In response to his recent comments, we would like to respectfully highlight the remarkable transformation of the NNPC.
Today, NNPC has evolved into NNPC Ltd, a private entity that has transitioned from being a loss-making organisation to becoming a profit-oriented global energy leader. “Under this new model, NNPC Ltd has expanded beyond oil and gas to become an integrated energy company.
Our focus is not only on harnessing traditional resources but also on developing cleaner, cheaper, and sustainable energy solutions to meet Nigeria’s growing demands.
“A notable achievement of NNPC Ltd is the complete rehabilitation of the Port Harcourt Refining Company (PhRC) and Warri Refinery.
This is not the typical Turnaround Maintenance (TAM) of the past but a comprehensive overhaul designed to meet world-class standards.
Similar efforts are underway at the old Port Harcourt Refinery and Kaduna Refinery, ensuring these facilities are enhanced and maintained to global standards for sustainable operation.
“This progress has been driven by the visionary leadership of the NNPC Limited board and the management team led by Group Chief Executive Officer (GCEO), Mele Kyari, alongside President Bola Tinubu’s transformative policies in the energy sector.
Together, they have achieved unprecedented milestones, setting NNPC Limited on a path to redefine energy security for Nigeria while positioning the company as a leader on the global energy stage.”
He added: “We extend an invitation to our esteemed former president to join us in this historic journey. His wisdom and experience are invaluable, and we deeply appreciate his insights and guidance, which will always be welcomed and cherished.”
