Description

Litii Investment Nigeria Limited an allied company of The Nigerian National Petroleum Corporation, NNPC, which was established on April 1, ***7, under the statutory instrument-Decree No.*3 of same year by a merger of Nigerian National Oil Corporation, NNOC, with its operational functions and the Federal Ministry of Mines & Power with its regulatory responsibilities. This decree established NNPC, a public organization that would, on behalf of Government, adequately manage all government interests in the Nigerian Oil industry.
In addition to its exploration activities, the Corporation was given powers and operational interests in refining, petrochemicals and products transportation as well as marketing. Between ***8 and ***9, NNPC constructed refineries in Warri, Kaduna and Port Harcourt and took over the *5,***-barrel Shell Refinery established in Port Harcourt in ***5.
       In ***8, the NNPC was commercialised into *2 strategic business units, covering the entire spectrum of oil industry operations: exploration and production, gas development, refining, distribution, petrochemicals, engineering, and commercial investments.