The head of the Nigerian National Petroleum Company Limited (NNPC Ltd.) visited the Dangote Refinery and Petrochemical Complex on Saturday, as both sides pledged to deepen a strategic alliance aimed at strengthening energy security and expanding domestic refining capacity.
Group Chief Executive Officer Bashir Ojulari led an NNPC delegation to the sprawling refinery complex in Ibeju-Lekki, Lagos State, for high-level talks with executives of the Dangote Group.
The visit culminated in a renewed commitment to collaboration between the state energy firm and Africa’s largest private refinery, a project seen as central to Nigeria’s ambition to reduce fuel imports and position itself as a regional refining hub.
The Dangote refinery, with a capacity of 650,000 barrels per day, is expected to significantly cut Nigeria’s reliance on imported petroleum products once fully operational.
Ojulari commended Dangote Group President Aliko Dangote for what he described as vision and perseverance in delivering the multibillion-dollar project.
“This strategic alliance will unlock synergies across assets, infrastructure, capital and markets,” Ojulari said in a statement issued after the meeting.
He added that closer cooperation would provide greater visibility over business relations between NNPC Ltd. and the Dangote Group, while opening opportunities for expansion across the energy value chain.
“There is significant potential for both companies to expand upstream and move into trading, shipping and gas supply,” he said.
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The visit included a tour of the refinery and discussions focused on strengthening operational and commercial ties, as Nigeria continues efforts to reform its oil and gas sector.
President Bola Tinubu’s administration has pursued policy reforms aimed at attracting investment and improving transparency in the sector, including restructuring the former state oil corporation into a limited liability company.
Ojulari expressed appreciation for what he described as Tinubu’s “visionary leadership,” saying policy clarity and investor-friendly reforms had created an enabling environment for large-scale partnerships.
For decades, Nigeria, Africa’s top oil producer, has exported crude oil while importing most of its refined fuel due to limited domestic refining capacity. Chronic fuel shortages and subsidy costs have weighed heavily on public finances.
The Dangote refinery, built by Africa’s richest man Aliko Dangote, is expected to transform the downstream sector by processing local crude into petrol, diesel, aviation fuel and other products.
Dangote said the strengthened partnership with NNPC Ltd. would ultimately benefit Nigerians through economies of scale and improved efficiency.
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“Nigerians will be the greatest beneficiaries of this synergy,” he said, adding that the collaboration would unlock value across markets and enhance supply security.
NNPC Ltd. currently holds a 7.25 per cent stake in the Dangote refinery, a shareholding regarded as a strategic investment aligned with its downstream growth objectives.
Energy analysts say closer alignment between the state oil company and the privately owned refinery could help stabilise fuel supply, reduce foreign exchange pressures and improve pricing transparency.
However, they caution that long-term success will depend on consistent crude supply arrangements, regulatory clarity and market-driven pricing mechanisms.
The renewed alliance signals a shift toward greater public-private cooperation in Nigeria’s energy landscape, as authorities seek to boost domestic value addition and reduce vulnerability to global supply disruptions.
Both parties said they were committed to deepening cooperation in pursuit of shared objectives, including ensuring energy security, driving industrial growth and delivering value to citizens.
As Africa’s largest economy navigates economic reforms and fluctuating oil prices, the partnership between NNPC Ltd. and the Dangote Group is likely to play a pivotal role in shaping the country’s downstream future.
