The Nigerian National Petroleum Company (NNPC) Limited has rejected a recent report suggesting it has halted the importation of refined petroleum products and is exclusively sourcing from local refineries like the Dangote Petroleum Refinery.

NNPC called the report a ?misrepresentation and misinterpretation of fact.?

On Tuesday, November 12, a national newspaper attributed remarks to NNPC?s Group Chief Executive Officer, Mele Kyari, at the Nigerian Association of Petroleum Explorationists (NAPE) conference, indicating that NNPC had stopped importing fuel in favor of domestic sources.

The article was titled, ?NNPCL Ends N24tn Fuel Import, Buys from Dangote Refinery.?

In response, Femi Soneye, NNPC?s chief corporate communications officer, clarified that while Kyari?s statements were quoted accurately, the interpretations presented in the article were misleading and did not reflect the full context.

?Your report quotes the GCEO?s words accurately in parts, but the interpretations added are factually inaccurate, creating a narrative far removed from the reality,? Soneye said.

Soneye expressed disappointment over the report?s inaccuracies and urged media outlets to verify facts carefully, especially on critical national issues.

He clarified that NNPC?s priority is to source products from domestic refineries when economically viable, but this does not imply an obligation to buy exclusively from any specific refinery or to cease fuel imports entirely.

?The GCEO?s statement, ?Today, NNPC does not import any product; we are only taking from domestic refineries,? should not be misconstrued. NNPC Ltd. will choose local supply when cost-effective, but this approach applies broadly to all fuel marketers, who consider economic factors when deciding between local sourcing or imports,? Soneye explained.

He emphasised that NNPC?s procurement decisions will continue to be guided by cost efficiency rather than an absolute commitment to local refineries.

He also noted that the Petroleum Industry Act (PIA) assigns the authority to issue import licenses to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), not NNPC.

Under the PIA, NNPC holds no more than 30 percent of the market, a cap intended to prevent monopolistic practices. The act promotes a competitive, free-market system where local refiners must compete on pricing and value.

While commending the publication for correctly noting NNPC?s investments in Compressed Natural Gas (CNG) infrastructure to enhance energy security, Soneye expressed concern over repeated misinterpretations in some recent reports. He cautioned against further inaccuracies, especially given the significance of energy security.

?Misleading narratives undermine public trust and your publication?s integrity,? Soneye said.

?We urge your reporters to seek clarification when needed, particularly on sensitive topics. A commitment to accuracy will benefit both your readership and your publication?s reputation,? Soneye added. (BusinessDay)

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