The Nigerian National Petroleum Company Limited (NNPCL) announced plans to raise its stake in the Dangote Refinery from 7.2% to 20%. This move is part of the state‑owned firm’s strategy to deepen its participation in Nigeria’s energy value chain. NNPCL’s Group Chief Executive Officer, Bayo Ojulari, disclosed the plan at the Abu Dhabi International Petroleum Exhibition and Conference 2025, describing the expansion as a significant development for the country’s oil and gas sector.
The Dangote Refinery, owned by Aliko Dangote, is a major player in Nigeria’s petroleum industry. Recently, Dangote indicated that NNPCL could increase its stake only after the refinery had demonstrated its capabilities, making performance a key factor for the investment’s success. Both parties view the larger shareholding as a win‑win: NNPCL would gain greater involvement in the energy industry, while the refinery would receive additional support to operate efficiently.
In a related development, NNPCL’s retail outlets in Abuja lowered the petrol price to N945 per litre, down from N955, after supply glitches at the Dangote Refinery were resolved. The price reduction offers relief to consumers who have faced high fuel costs and signals progress in addressing industry challenges.
Overall, NNPCL’s decision to increase its stake underscores its commitment to Nigeria’s energy sector. The partnership with the Dangote Refinery is expected to spur further investment, create jobs, improve efficiency, and contribute positively to the broader economy as the country’s energy landscape continues to evolve.
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