Agency Report
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and the Dangote Group have forged a renewed strategic alliance designed to accelerate energy security, deepen domestic refining capacity and drive long-term economic prosperity.
In a significant move aimed at reshaping Nigeria’s energy landscape, the two companies renewed the alliance on Saturday.
This epochal deal was reached when Mr Bashir Ojulari, Group Chief Executive Officer, NNPC Ltd,. led the NNPC’s delegation to the Dangote Refinery and Petrochemical Complex in Ibeju-Lekki, Lagos State.
The visit was for high-level discussions that culminated in a renewed commitment to strategic collaboration between the two companies.
The visit, which included a facility tour, focused on strengthening operational and commercial relationship between NNPC Limited and the Dangote Refinery, with both organisations reaffirming their shared vision for Nigeria’s energy future.
Mr Ojulari, in a statement commended the President of the Dangote Group, Alhaji Aliko Dangote, 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.
Speaking on the breadth of the partnership, Mr 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 added.
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.
Mr Ojulari expressed profound appreciation to President Bola Tinubu for his visionary leadership in the oil and gas sector.
He said the president’s policy clarity, investor-friendly reforms and commitment to sectoral transformation had signalled seriousness to both domestic and international investors, creating an enabling environment for partnerships of this scale to flourish.
According to the Chairman of Dangote Group, Alhaji Aliko Dangote, Nigerians will be the beneficiaries of the synergy between Dangote Group and NNPC Ltd, because the collaboration will achieve economies of scale and unlock value across markets.
The visit concluded with both parties reaffirming their commitment to deepening cooperation in pursuit of shared objectives, ensuring energy security, driving industrial growth and delivering value to Nigerians.
NNPC Ltd. currently holds a 7.25 per cent 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.
