The Nigerian National Petroleum Company Limited (NNPCL), has affirmed its status as a proud part-owner of the Dangote Refinery, clarifying its support and long-term partnership with the facility.
NNPCL’s Group Chief Executive Officer, Mele Kyari, made this statement at a conference held by the Nigerian Association of Petroleum Explorationists in Lagos on Monday, addressing concerns raised about NNPCL’s role in the refinery’s operations.
Aliko Dangote, owner of the Dangote Refinery, previously suggested that certain parties, including NNPCL, were working to undermine the refinery’s activities.
However, Kyari dismissed these accusations, asserting that NNPCL is fully invested in the refinery’s success. “We are very proud part-owners of the Dangote refinery, no doubt about it,” Kyari stated.
Explaining the rationale behind NNPCL’s investment, Kyari noted the strategic need to secure a domestic market for Nigeria’s crude oil production.
“We saw an opportunity that there is a clear market for at least 300,000 barrels of our production. With oil being discovered in unexpected locations worldwide, it’s essential to establish secure, local demand for our production,” he said.
Kyari emphasized that the decision was purely a business strategy, not limited to Dangote but extended to any operational refinery in Nigeria.
“This was a very informed business decision,” he said, highlighting NNPCL’s commitment to strengthening domestic refining capacity.
