The Nigerian National Petroleum Company Ltd (NNPCL) and the Dangote Group have entered into the strategic alliance to unlock synergies across assets, infrastructure, capital and markets as well as provide visibility of all NNPCL and Dangote business relations.
According to local media reports, the alliance was sealed at a high-level meeting of the two companies in Lagos recently which culminated in a renewed commitment to strategic collaboration between them.
The Group Chief Executive Officer of NNPCL, Mr. Bayo Ojulari, had led a delegation of his company to the Dangote Refinery and Petrochemical Complex in Ibeju-Lekki in Lagos for the meeting.
The visit, which included a facility tour, focused on strengthening operational and commercial relationship between the NNPCL and the Dangote Refinery, with both organisations reaffirming their shared vision for Nigeria’s energy future.
Ojulari commended the President of the Dangote Group, Alhaji Aliko Dangote, for his vision and perseverance in delivering the 650,000 barrels per day refinery, a project that has positioned Nigeria as a major downstream hub in Africa.
Speaking on the breadth of the partnership, Ojulari described the strategic alliance as one that will “unlock synergies across assets, infrastructure, capital and markets. It will also provide visibility of all NNPCL and Dangote business relations.”
He spoke of the expansive potential of the collaboration, stressing the huge opportunity for both companies to expand upstream and move into trading, shipping, gas supplies among other fronts.
The NNPC boss expressed profound appreciation to President Bola Tinubu for his visionary leadership in the oil and gas sector.
He said the President’s policy clarity, investor-friendly reforms and commitment to sectoral transformation had signalled seriousness to both domestic and international investors, creating an enabling environment for partnerships of this scale to flourish.
In his remarks, Aliko Dangote said: “Nigerians will be the beneficiaries of the synergy between Dangote Group and NNPCL because our collaboration will achieve economies of scale and unlock value across markets.”
The visit was concluded with both parties reaffirming their commitment to deepening cooperation in pursuit of shared objectives, ensuring energy security, driving industrial growth and delivering value to Nigerians.
NNPCL currently holds a 7.25 per cent stake in the Dangote Refinery and it is considered to be a strategic investment that aligns with the NNPCL’s downstream growth objectives and commitment to domestic refining capacity.
GIK/APA