The partnership between the Nigerian National Petroleum Company (NNPC) Limited and the Dangote Refinery has contributed to stabilising the nation’s petroleum product supply, according to NNPC’s Group Chief Executive Officer (GCEO), Bayo Ojulari.
Speaking at the CERAWeek by S&P Global conference in Houston, Ojulari linked the improved supply stability directly to NNPC’s 7.25% equity stake in the Dangote Refinery and the resulting close collaboration. He explained that the partnership facilitates coordinated crude oil supply and enhanced product distribution networks, addressing previous volatility in domestic availability.
The CEO also highlighted the strategic importance of the ongoing AKK Gas Pipeline project, which aims to extend natural gas infrastructure to northern states like Kano. He noted that gas already powers industrial hubs in the southeast and southwest, and the pipeline’s completion is intended to spur job creation and power generation in the north, reinforcing national energy security.
Ojulari framed these initiatives within NNPC’s broader transformation mandate under the Petroleum Industry Act (PIA). He stated the company’s ambition is to evolve into a globally competitive, commercially-driven entity comparable to international oil majors. This shift, he noted, requires coordinated understanding and support from all arms of government and the public to foster a private-sector-oriented operational culture.
Regarding President Bola Tinubu’s recent Executive Order 9, designed to improve cost efficiency and revenue transparency in the upstream sector, Ojulari expressed NNPC’s full support. While acknowledging concerns from groups like PENGASSAN, he asserted the order’s intent aligns with improving transparency across the entire energy industry. He confirmed NNPC is actively collaborating with the implementation team to provide technical data, ensuring the order’s strategic goals are met effectively.
The collaboration with Dangote Refinery represents a significant shift in Nigeria’s approach to fuel supply, moving import dependence toward domestic production. The successful execution of projects like the AKK pipeline and adherence to the PIA’s commercial principles are now critical to sustaining this stability and achieving long-term energy security and economic growth.
