Nigerian National Petroleum Company (NNPC) Limited and Dangote refinery have reaffirmed their commitment to a strategic alliance aimed at unlocking operational synergies and domestic energy sufficiency. This move signals a reshaping of Nigeria’s downstream landscape.
Bashir Ojulari, the Group Chief Executive Officer of NNPC Ltd, who led a high-level management delegation to the 650,000 barrels per day (bpd) facility in Ibeju-Lekki, Lagos, at the weekend, commended Aliko Dangote, President of the Dangote Group, for his vision and perseverance in delivering the 650,000 barrels per day refinery, a project that positions Nigeria as a major downstream hub in Africa.
The visit, which included an extensive facility tour, marks a critical pivot toward streamlining the commercial relationship between the state-owned oil firm and the world’s largest single-train refinery.
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Speaking during the tour, Ojulari described the strategic alliance as one that will unlock synergies across assets, infrastructure, capital, and markets. It will also provide visibility of all NNPC-Dangote business relations.
He further revealed the expansive potential of the collaboration, noting that there is huge opportunity for both companies to expand upstream, and move into trading, shipping, gas supplies, among other fronts.
Ojulari expressed profound appreciation to President Bola Ahmed Tinubu for his visionary leadership in the oil and gas sector. He noted that the President’s policy clarity, investor-friendly reforms, and commitment to sectoral transformation have signalled seriousness to both domestic and international investors, creating an enabling environment for partnerships of this scale to flourish.
Also speaking, Aliko Dangote, the Chairman of Dangote Group said, “Nigerians will be the beneficiaries of the synergy between Dangote Group and NNPC Ltd, because our collaboration will achieve economies of scale and unlock value across markets.”
Both parties reaffirmed their commitment to deepening cooperation in pursuit of shared objectives, ensuring energy security, driving industrial growth and delivering value to Nigerians.
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NNPC Ltd currently holds a 7.25 percent stake in the Dangote Refinery. The shareholding is considered to be a strategic investment that aligns with NNPC Ltd’s downstream growth objectives and commitment to domestic refining capacity.
