In an effort to safeguard Nigeria’s national interest, Philip Agbese, the deputy spokesperson for the House of Representatives, has defended the Nigerian National Petroleum Company Limited’s 7.25 percent stake in the Dangote Refinery.
In response to mounting criticism following President Bola Tinubu’s recent Executive Order mandating the direct repatriation of oil income to the Federation Account—a move that has allegedly decreased parts of the state-owned oil firm’s revenue streams—Agbese spoke in a statement released on Friday.
The Executive Order has sparked discussion in Nigeria’s gas and oil industry.
In an attempt to strengthen ties with the private sector, the Group Chief Executive Officer of Nigerian National Petroleum Company Limited, or NNPCL, recently led a group to the 650,000-barrel-per-day Dangote Refinery despite the controversy.
In response, Agbese emphasized that Nigeria’s industrial development and energy security will be greatly improved by the collaboration between NNPCL and the refinery.
“This will boost energy security and rebuild trust in Nigeria’s industrial capacity.”
“The national oil company guarantees that national interest is ingrained in its success when it maintains a 7.25 percent stake in a strategic asset of this size,” he stated.
