NNPC has not been ‘SOLD’, please. It is still wholly owned by Govt – Presidential aide, Ogunlesi

Tolu Ogunlesi, special assistant to president Muhammadu Buhari on New and digital media has dismissed claims that the Federal Government has sold the Nigerian National Petroleum Company Limited, NNPC, LTD.

He explained that NNPC was only transitioning from a government parastatal into a commercial liability company and it is still owned by the federal government.

In a tweet he shared, he 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.”