NNPCL targets 20 per cent ownership stake in Dangote Refinery

The Nigerian National Petroleum Company Limited (NNPCL) said it plans to increase its ownership stake in Dangote Refinery to 20 per cent from 7.2 per cent.

NNPCL Group Chief Executive Officer, Bayo Ojulari, disclosed this in his remarks at the Abu Dhabi International Petroleum Exhibition and Conference 2025.

According to him, the move is part of the state-owned firm’s strategy to deepen participation in the country’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.

This comes as the President of Dangote Refinery, Aliko Dangote, recently said the NNPCL could expand its stake. He, however, noted that this would only happen after Dangote Refinery had proven to NNPCL what the plant can do.

NNPCL retail outlets in Abuja also reduced their petrol pump price to N945 per litre from N955 as supply glitches at the Dangote Refinery eased.