Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), has informed the House Committee on Finance that gaining a seat on the board of the Dangote Refinery would help to ensure that Nigerians have access to enough supplies of oil.

In his statement, Mr. Kyari claimed that the government purchased the interest to ensure that the company purchases crude oil from Nigeria, stating that the owner of Dangote Refinery as opposed to the concept of the government purchasing a 20 percent stake in his company.

He went on to say that no government in the world would allow such a firm to exist unless they were given a seat on the company’s board of directors.

Nigerians expressed their displeasure with the NNPC’s plan to borrow money to acquire stakes in the corporation on social media, where many expressed their displeasure with the decision.

The GMD stated that the move, which he made while testifying before the House Committee on Finance on Wednesday, will ensure the security of Nigeria’s oil supply.

“I can confirm Mr. Chairman, taking stake was at the instance of the NNPC, I believe up to this moment, Mr. Dangote does not want us to take equity in this plant. This is a very unformed policy decision that fuel will guarantee security because we will have a seat—we will have a right to 20% of the production from this facility.

“As we speak today, we don’t have any strategic storage or arrangement. So no county will allow any venture of this nature to exist without having a sit on its board.”

He went on to say that because the refinery is located within a free trade zone, it is under no obligation to purchase crude oil from Nigeria.

The chairman of the committee, James Faleke, responded by saying that legislators will be obliged to pass legislation requiring Mr. Dangote to purchase from Nigerian suppliers.