The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to increase its equity stake in Dangote Refinery from 7.2 percent to 20 percent.
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 move aligns with the state-owned oil firm’s broader strategy to strengthen its participation across Nigeria’s energy value chain.
“The company is working towards increasing its stake in Nigeria’s Dangote Refinery to 20 percent,” Ojulari was quoted by Reuters as saying.
His comment follows a recent statement by Dangote Refinery President, Aliko Dangote, who indicated that NNPCL’s stake could be expanded once the refinery demonstrates its operational capacity to the company’s satisfaction.
Meanwhile, NNPCL retail outlets in Abuja have reduced the pump price of petrol from ₦955 to ₦945 per litre, following an improvement in product supply from the Dangote Refinery.