FG In Talks With Investors For Majority stakes In 4 refineries.

FG In Talks With Investors For Majority stakes In 4 refineries.

The Federal Government has disclosed that it is in talks with some investors to give up majority stakes in the government’s 4 refineries.

The disclosure was made by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, during a discussion programme on Channels Television on Wednesday, September 9, 2020.

He revealed that the Federal Government wanted to implement an operating model in which the government-owned NNPC would be a minority shareholder in the assets. He said that the government wanted the LNG model for the refineries, where the private investors would operate and manage the refineries.

Mele Kyari said, “It means there will be more scrutiny of shareholders and also becoming more efficient to operate. That conversation is on the table.’’

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