The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to increase its ownership stake in the Dangote Refinery from 7.2 per cent to 20 per cent as part of efforts to strengthen its role in Nigeria’s energy value chain.
The Group Chief Executive Officer of NNPCL, Bayo Ojulari, disclosed this during the Abu Dhabi International Petroleum Exhibition and Conference 2025 held in the United Arab Emirates (UAE).
Ojulari, quoted by Reuters, said the move aligned with the oil company’s long-term strategy to expand its participation in key domestic refining and energy infrastructure projects.
“The company is working towards increasing its stake in Nigeria’s Dangote Refinery to 20 per cent,” he said.
His remarks come shortly after the President of Dangote Industries Limited, Aliko Dangote, confirmed that NNPCL could increase its equity in the refinery once the company had demonstrated its full operational capacity.
Meanwhile, NNPCL retail outlets in Abuja have reduced their petrol pump price from ₦955 to ₦945 per litre, following improvements in fuel supply after earlier distribution challenges at the Dangote Refinery.
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