The Nigerian National Petroleum Company Limited (NNPCL) has announced its intention to raise its ownership share in the Dangote Refinery from the current 7.2 percent to 20 percent.
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The Group Chief Executive Officer of NNPCL, Bayo Ojulari, revealed this during the Abu Dhabi International Petroleum Exhibition and Conference held in 2025. He explained that the plan is part of NNPCL’s effort to strengthen its involvement in Nigeria’s oil and gas sector and expand its role in the nation’s energy value chain.
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The move comes as Dangote Refinery’s President, Aliko Dangote, recently noted that NNPCL could acquire a larger stake once the company demonstrates the refinery’s full operational capacity. The refinery, which is one of the largest in Africa, is expected to play a major role in boosting local fuel production and reducing Nigeria’s dependence on imported petroleum products.
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Meanwhile, NNPCL retail stations in Abuja have lowered their petrol pump price to ₦945 per litre, down from ₦955. The price adjustment follows the resolution of supply challenges that had earlier affected distribution from the Dangote Refinery.
The planned increase in equity marks another step in NNPCL’s ongoing collaboration with the private sector to improve domestic refining capacity and ensure stable fuel supply across the country.
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