NNPCL confirms its ownership stake in Dangote Refinery, refuting sabotage claims by owner Aliko Dangote. Mele Kyari, CEO of NNPCL, explains that the partnership was a strategic decision to secure a market for Nigeria’s growing oil production and support the country's energy self-sufficiency.
The Nigerian National Petroleum Company Limited (NNPCL) has confirmed its role as a proud part-owner of the Dangote Refinery, a major development in Nigeria’s energy sector. Mele Kyari, the Group Chief Executive Officer of NNPCL, made this announcement at a conference hosted by the Nigerian Association of Petroleum Explorationists in Lagos on Monday.
This revelation comes amid previous accusations by Aliko Dangote, owner of the Dangote Group, who had claimed that NNPCL and certain individuals in the oil sector were attempting to sabotage the operations of his refinery. Kyari strongly rejected these allegations, emphasizing that NNPCL’s involvement with the Dangote Refinery is rooted in a well-calculated business decision.
“We are very proud part-owners of Dangote Refinery, no doubt about it,” Kyari affirmed. “We saw an opportunity to secure a market for at least 300,000 barrels of production. As time goes on, finding oil markets will become more challenging, and refineries like Dangote's provide a vital domestic outlet for supply.”
Kyari explained that this partnership is a strategic move in line with global trends, where oil production is becoming increasingly unpredictable, with new reserves discovered in unexpected places.
