The
Nigeria National Petroleum Corporation, NNPC, has said the only way to
encourage investors to build more refineries in the country, is to create favourable
business environment through deregulation of the downstream sector.
The
Group Managing Director of NNPC, Mr. Andrew Yakubu, made the remarks while
speaking at a capacity building workshop for energy journalists in Uyo, the
Akwa Ibom State capital.
He
noted that the current business environment in the sector was not conducive
enough to attract investors because there was no guarantee investors would make
returns that are commensurate with the investments.
According
to him, “the media occupy a very important position in the scheme of things in
Nigeria. In fact, globally, the media are part of every nation’s development
process, provide the barometer to monitor and ensure that laid down procedures
and processes are adhered to in every sector.
“The
oil and gas sector therefore is
