NNPC To Acquire Equity In Private Refineries To Safeguard National Energy Security(AFRICAN EXAMINER) – The Nigerian National Petroleum Corporation has revealed that it is currently considering equity participation in a number of private refineries in the country in line with a Federal Government policy directive which stipulates the mandatory participation of the Corporation in any privately-owned refinery that exceeds 50,000 barrels per day capacity in keeping with its statutory role of safeguarding national energy security. In this regard, the Corporation has identified at least six refinery projects in which it intends to seek equity participation, five of them are at the development stage with the Dangote Refinery being the largest of them. These roles enable it to achieve the twin objectives of providing energy security for the country and stimulating the nation’s economic development and growth. The oil refining sector is one of such segments where NNPC is revisiting its strategy in order to strengthen domestic refining capacity and guarantee National Energy Security. The new vision is to grow domestic refining capacity, improve petroleum products supply from our local refineries and become a net exporter of petroleum products.