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.

The Federal Government still owns NNPC, according to Ogunlesi.

He clarified that NNPC was just becoming a commercial liability corporation from a government parastatal.

News Report that 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.


Read Also: Buhari claims that NNPC Limited will Provide National Energy Security at the Company’s Unveiling.


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




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