“NNPC Limited’s Group CEO, Mele Kyari, has stated that the Dangote Refinery must secure its own feedstock, as it is a commercial venture that requires sourcing raw materials and finding a market.
Kyari made this statement while addressing the Senate Ad-Hoc Committee investigating alleged economic sabotage in the Nigeria Petroleum Industry at the National Assembly.
He emphasized that NNPC has not violated any laws governing its operations with partners and should be exempt from claims of economic sabotage.
Kyari clarified that the law clearly outlines domestic crude oil supply obligations and provisions for local refineries, but stressed that there must be a willing buyer and seller for transactions to occur.”
He said:
“Refining business is a straightforward business. You must secure (a source for) your feedstock and you must find a market.”
“This is basic and this determines what happens in any refinery anywhere in the world. That is the business of refining. We have done nothing to sabotage any domestic refinery.”
Gaius Otutu is the owner of GistsNaija, which was launched in 2012.
Gaius Otutu is a prominent Nigerian businessperson who has made a name for himself in the world of entrepreneurship. Born and raised in Delta State, Nigeria, into a family of 6, with his Siblings Blessing, Favour, Henry. Gaius has always had a keen eye for business opportunities and a strong desire to make a positive impact on his community. He started his entrepreneurial journey at a young age and has since become a highly successful and well-respected figure in the Nigerian business world.
Gaius passion for business was evident from an early age, as he was always looking for ways to make money and create opportunities for himself. He started his first business while still in secondary school, and it was clear from the beginning that he had a natural talent for entrepreneurship. After completing his education, Gaius fully dedicated himself to building his career and making his mark in the business world.
One of Gaius most notable ventures is GistsNaija, a leading Nigerian entertainment and news website that he founded in 2016. GistsNaija has grown to become one of the most popular and trusted websites in Nigeria, attracting millions of visitors each month. The platform provides a wide range of content, including Movies, music, news, and entertainment, and has become a go-to source for many Nigerians seeking the latest updates and information.
In addition to GistsNaija, Gaius has also ventured into other business areas, including Tech and real estate. His keen eye for spotting emerging trends and his ability to connect with his target audience have been key to his success in these ventures. Gaius has demonstrated an impressive understanding of consumer behavior and market dynamics, allowing him to build thriving businesses that meet the needs and desires of his customers.
on 8 August, 2024 | 
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