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FG Not Selling NNPC Ltd. – Presidency

He explained that NNPC was only transitioning from a government parastatal into a commercial liability company.

FG Not Selling NNPC Ltd. – Presidency

President Muhammadu Buhari’s Special Assistant on New and Digital Media, Tolu Ogunlesi, has dismissed claims that the Federal Government has sold the Nigerian National Petroleum Company Limited, NNPC, LTD.

Ogunlesi assured that the Federal Government still owns NNPC.

He explained that NNPC was only transitioning from a government parastatal into a commercial liability company.

In a tweet, Ogunlesi wrote: “NNPC has not been ‘SOLD’, please. It is still wholly owned by Govt. What has happened is a TRANSITIONING from a Government ‘Parastatal’, into a commercially-run Limited Liability Company (still wholly owned by Govt of Nigeria,on behalf of the people of Nigeria), governed by CAMA.”

Buhari had unveiled the new NNPC Limited on Tuesday in Abuja.

The event had the Senate President, Ahmad Lawan; Speaker of the House of Representatives, Femi Gbajabiamila; among other top government dignitaries in attendance.