The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to increase its shareholding in the Dangote Refinery from 7.2 per cent to 20 per cent.
NNPCL Group Chief Executive Officer, Bayo Ojulari, revealed this during his remarks at the 2025 Abu Dhabi International Petroleum Exhibition and Conference.
Ojulari explained that the proposed expansion aligns with the company’s broader strategy to strengthen its involvement across Nigeria’s energy value chain.
“The company is working towards increasing its stake in Nigeria’s Dangote Refinery to 20 per cent,” he said, as reported by Reuters.
His comments come shortly after the President of Dangote Refinery, Aliko Dangote, indicated that NNPCL could acquire a larger stake—though only after the refinery has fully demonstrated its operational capacity to the national oil company.
Meanwhile, NNPCL retail stations in Abuja have reduced petrol pump prices to N945 per litre from N955 following the resolution of supply disruptions at the Dangote Refinery.
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