The Nigerian National Petroleum Company Limited (NNPCL) has revealed plans to increase its ownership in the Dangote Refinery from the current 7.2 percent to 20 percent, signaling a deeper push into Nigeria’s downstream energy sector.
Group Chief Executive Officer, Bayo Ojulari, made this known during the Abu Dhabi International Petroleum Exhibition and Conference 2025. He explained that the move aligns with NNPCL’s broader strategy to strengthen its footprint across the country’s energy value chain and ensure greater national participation in refining operations.
Ojulari was quoted as saying, “The company is working towards increasing its stake in Nigeria’s Dangote Refinery to 20 percent,” underscoring NNPCL’s commitment to strategic partnerships that enhance domestic energy security.
Meanwhile, Aliko Dangote, President of Dangote Refinery, recently acknowledged that discussions were ongoing with NNPCL over the potential expansion of its equity stake. He noted that the increase would only proceed once the refinery has fully demonstrated its operational capacity and efficiency.
In a related development, NNPCL retail outlets in Abuja slightly reduced their petrol pump price from N955 to N945 per litre, following the easing of earlier supply disruptions linked to the refinery’s operations.
Industry analysts told Zoyols Blog that the proposed investment could further solidify collaboration between the state-owned oil firm and Africa’s largest refinery, strengthening Nigeria’s drive for energy self-sufficiency.
