State oil firm eyes deeper participation in Nigeria’s energy value chain amid easing supply glitches.
The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to increase its ownership stake in Dangote Refinery from 7.2 per cent to 20 per cent, as part of a broader strategy to deepen its participation in the country’s energy value chain.
NNPCL Group Chief Executive Officer, Bayo Ojulari, made the disclosure during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025.
“The company is working towards increasing its stake in Nigeria’s Dangote Refinery to 20 per cent,” Ojulari told journalists.
The move follows comments by Aliko Dangote, President of Dangote Refinery, who said that NNPCL could expand its stake after the refinery demonstrates its operational capabilities.
Meanwhile, NNPCL retail outlets in Abuja have reduced petrol pump prices to N945 per litre from N955, following the easing of supply glitches at Dangote Refinery.
Analysts see the development as part of government efforts to strengthen local energy infrastructure, ensure steady fuel supply, and boost state participation in strategic downstream assets.
