The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to increase its ownership stake in the Dangote Refinery from the current 7.2 percent to 20 percent.
This was revealed by Bayo Ojulari, CEO of NNPCL Group, during his speech at the Abu Dhabi International Petroleum Exhibition and Conference 2025.
He claims that the action is a component of the state-owned company’s plan to increase involvement in the nation’s energy value chain.
“The company is working towards increasing its stake in Nigeria’s Dangote Refinery to 20 per cent,” Ojulari was quoted by Reuters as saying.
Aliko Dangote, the president of Dangote Refinery, reportedly stated that the NNPCL may increase its ownership. But he pointed out that this would only take place if Dangote Refinery had demonstrated its capabilities to NNPCL.
With supply challenges at the Dangote Refinery easing, NNPCL retail outlets in Abuja have also reduced their pump price of petrol from ₦955 to ₦945 per litre.
