Nigeria's State-Owned Oil Company Says Units, Refineries, Won't Be Sold

Nigeria isn’t planning to sell its four refineries or any of the state-owned oil company’s units, an official at the Nigerian National Petroleum Corp. said.

The West African nation won’t sell the NNPC’s Petroleum Products Marketing Co. or National Gas Co. units, Levi Ajuonuma, the group general manager of public affairs, said in an e-mailed statement today.

“I wish to categorically state that there is no clandestine move whatsoever to privatize the nation’s refineries, the PPMC or the NGC,” he said. “Efforts are in top gear by the federal government to ensure the speedy reform of the industry,” he said.

To contact the reporter on this story: Elisha Bala-Gbogbo in Accra at ebalagbogbo@bloomberg.net

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