Dangote, NNPC Partner for National Development
The President/Chief Executive Officer of the Dangote Group, Aliko Dangote, on Thursday paid a courtesy visit to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr Bayo Ojulari, in Abuja.
The high-level meeting, held at the NNPC Towers, focused on promoting mutually beneficial partnerships and fostering healthy competition between Dangote Petroleum Refinery & Petrochemicals and NNPC Ltd., with a shared vision of strengthening Nigeria’s energy security and accelerating economic prosperity.
The national oil firm disclosed the meeting between both parties in a post on its official X handle on Thursday.
The meeting marks the first official engagement between both parties since the unceremonious removal of former NNPCL GCEO, Mele Kyari, in April and the subsequent appointment of Mr. Bashir Bayo Ojulari as the new Group Chief Executive Officer of the Nigerian National Petroleum Company Limited.
In recent months, relations between the Dangote Group and NNPCL had grown tense following the troubled implementation of the naira-for-crude oil deal, which sources said stalled under the previous management due to a lack of clarity and commitment.
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However, impeccable sources confided in The PUNCH that the agreement was revived under the new leadership after NNPCL agreed to resume crude sales in naira—a move that reportedly triggered a drop in the pump price of Premium Motor Spirit (petrol) to N915 per litre.
Tensions were further heightened over NNPCL’s $1bn equity investment in the refinery project during liquidity challenges. The company, however, clarified that the $1bn crude-backed loan was only five per cent of the total investment in building the 650,000 barrels per day refinery.
During the visit on Thursday, Dangote emphasised the importance of collaboration in transforming what many consider impossible into reality, adding that synergies in the sector would catalyse growth and industrial development. He also lauded the new NNPC Ltd. Management Team for its depth of industry expertise and professionalism.
“I am very impressed by the quality and experience of the new team. I believe we can work together to achieve great things for the country,” Dangote said.
In his response, Ojulari described Dangote as a humble African leader whose achievements have continued to inspire pride across the continent. He praised the visionary entrepreneur for his contributions to Africa’s industrial renaissance.
Ojulari also noted that since assuming office, he had encountered a wealth of exceptional talent within NNPC Ltd., adding that the organisation was focused on delivering excellence in the energy sector for the benefit of all Nigerians.
Both leaders agreed to serve as direct relationship managers for their respective organisations, vowing to pursue sustained, productive collaboration and healthy competition in the national interest.
