NNPC Retail Ltd enhances energy security

Kyari, who spoke on Friday at the resumed investigative hearing of the ad hoc committee on the acquisition of OVH Energy by NNPCL, said the organisation did nothing wrong in the acquisition as it was purely a business decision that has begun to yield results in less than one year after it was done.

He said: “This company came into existence as a result of the passage of the Petroleum Industries Act, which included the creation of a commercial oil company that will work for all. The NNPC GMD added that the PIA also mandated the company to be the energy guarantor for the country, adding that it was not an option for the company to do otherwise.

“On the basis of this and to discharge our responsibility as prescribed by the law, we do need to have the capacity to have control over the downstream sector of the economy.

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