Business
Dangote Refinery and NNPC Forge Strategic Alliance to Secure Nigeria’s Energy Future
In a landmark move signaling a new era of collaboration, Dangote Petroleum Refinery and the Nigerian National Petroleum Company Limited (NNPC Ltd.) have committed to a strategic partnership aimed at transforming Nigeria’s energy landscape and driving industrial self-sufficiency.
During a high-level visit to the Dangote Refinery and Petrochemicals complex in Ibeju-Lekki, the leadership of both organizations pledged to move beyond historical challenges and focus on delivering operational excellence and energy security for the nation.
President of Dangote Group, Aliko Dangote, described the renewed collaboration as central to the refinery’s founding vision and a critical step toward continental industrialization. He commended the new leadership of NNPC Ltd. for its proactive approach, stating that the partnership could “revolutionise the African market.”
“This was our dream before it became a reality. The partnership between ourselves and NNPC will not only strengthen Nigeria but can anchor the next phase of Africa’s industrial transformation,” Dangote said. “With the new leadership, I think the sky is the limit. We will cooperate, work together, and make Nigerians proud.”
Dangote noted that NNPC Ltd. currently holds a 7.25 percent equity stake in the refinery on behalf of Nigerians. He suggested that deepening collaboration within the existing industrial complex, rather than duplicating assets would unlock greater value for the nation.
He outlined ambitious expansion plans, revealing that the refinery is evolving into a fully integrated industrial hub. This includes the development of a 400,000 metric tonne Linear Alkyl Benzene (LAB) facility, a scale expected to surpass current African production capacity. Dangote emphasized that the future of refining lies in high-margin petrochemicals, which offer significantly higher value creation than fuel production alone.
“The refinery is an industrial hub, not just a refinery,” he added. “By prioritizing domestic processing over exporting raw materials, we can unlock greater economic value, strengthen foreign exchange earnings, and deepen Nigeria’s industrial base.”
Speaking on behalf of NNPC Ltd., the Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, affirmed the company’s commitment to a new era of transparency and partnership, explicitly distancing the organisation from its “unproductive past.”
“The whole idea is to examine where we are, identify additional opportunities, and agree on practical next steps,” Ojulari stated. “We have exciting proposals on the table, and we will consolidate them into a joint working framework for review.”
Ojulari lauded the operational performance of the Dangote Refinery, noting that the facility has surpassed its design capacity. During the tour, the plant was observed operating at 661,000 barrels per day, exceeding its 650,000 barrels-per-day nameplate capacity.
“None of us ever thought it would even touch 550,000. What we saw live today was 661,000. These are live parameters, not reports or photographs. This plant is a source of national pride and an example of how global technology can help us leapfrog legacy industrial limitations,” he said.
Ojulari described Dangote Group and NNPC Ltd. as “strategically significant national champions” with the collective potential to redefine Nigeria’s energy security and deepen industrialization.
“I want to make a commitment that we mean what we are saying. We are moving away from the unproductive past,” Ojulari reiterated. “Collaboration does not mean mediocrity. It means honest discussions about what will work, with one common purpose—to grow value.”
Both parties agreed to identify priority areas of collaboration in the coming weeks and move toward a structured implementation framework, solidifying a partnership poised to reshape the economic future of Nigeria and the broader African continent.
Banking/Finance7 hours ago
Fidelity Bank, NCF Deepen Environmental Sustainability Partnership at 20th Walk for Nature
Cover8 hours ago
Paraguay Impeaches President Santiago Peña, Places Him Under Arrest Over Banking Crisis
Cover2 days ago
Jorge Jesus, Nani Pay Tribute To Ronaldo Following Portugal Retirement
Banking/Finance2 days ago
Wema Bank Unveils 21 Finalists for Hackaholics 7.0 Grand Finale in Lagos
Business2 days ago
Namibia President Declares Dangote’s $2.5bn Energy Investment a Landmark for Africa’s Industrial Future
Cover3 days ago
Peller Regrets Crashing Car For Jarvis, Accuses Wife Of Calling Him Manipulator
Cover4 days ago
FIDELITY BANK PARTNERS CANEX WKND 2026 TO BOOST NIGERIA’S CREATIVE ECONOMY
Cover4 days ago
West Ham Sack Nuno Espírito Santo, Hold Talks With Scott Parker Over Managerial Replacement
Cover4 days ago
Ondo Police Raid Suspected Fake Dollar Factory in Odigbo, Arrest One, Recover Three Bags of Counterfeit Notes
Business5 days ago
Dangote Eyes Egypt for Next Phase of African Industrial Expansion
Cover5 days ago
Airtel Nigeria launches open network to strengthen transparency, customer trust
Cover5 days ago
Yomi Duroladipo’s New Move: Son of Legendary Chief Duro Ladipo Takes Charge as TAMPAN Oyo State Governor
Banking/Finance6 days ago
Wema Bank Announces November 6 for Hackaholics 7.0 Grand Finale, Unveils ‘Festival of the Future’
Cover6 days ago
Toluwanisings’ Widow Agrees to Home Burial as Associate Appeals for End to Online Attacks
Cover6 days ago
POWER IS A BUS-STOP: WHEN YOU ALIGHT, WILL YOU LEAVE A FRAGRANCE OR A STENCH? BY OSIFO WASHINGTON
