NNPC and Dangote Refinery Pledge Cooperation, Dismiss Rivalry in Energy Sector
The Nigerian National Petroleum Company (NNPC) Limited and Dangote Petroleum Refinery have pledged to deepen cooperation, foster healthy competition, and work together to secure the nation’s energy future.
This commitment was made during a courtesy visit by Aliko Dangote, President of the Dangote Group, to Bayo Ojulari, the newly appointed Group Chief Executive Officer (GCEO) of NNPC, at the company’s headquarters in Abuja.
According to a joint statement released on Thursday, both parties vowed to collaborate in promoting Nigeria’s energy security and ensuring shared prosperity for its citizens. Dangote, Africa’s richest man, emphasised unity over rivalry.
“There is no competition between us. We are not here to compete with NNPC Ltd. NNPC is part and parcel of our business, and we are also part of NNPC. This is an era of cooperation,” Dangote said.
He also commended Ojulari and his executive team on their appointments, acknowledging the heavy responsibility they bear. Despite the challenges ahead, he expressed confidence in the leadership’s ability to deliver results.
Ojulari, in his remarks, welcomed the partnership and stressed NNPC’s commitment to creating a win-win environment through fair competition and strategic collaboration.
“We are focused on creating value for Nigeria through innovation and synergy. Our staff is made up of highly skilled, dedicated professionals, and we see great opportunities in partnering with the Dangote Group,” Ojulari stated.
The meeting comes against the backdrop of recent tensions between the two energy giants, particularly over crude oil supply and pricing of refined petroleum products.
In October 2024, Nigeria began selling crude and refined products in naira to local refineries to ease import costs and stabilise fuel prices. However, on March 10, NNPC suspended the naira-for-crude arrangement until 2030, citing prior commitments that had already forward-sold its crude.
The Dangote refinery, in response, paused its naira-based product sales nine days later. But following government intervention, the initiative resumed in April.
Since then, both NNPC and Dangote have announced significant reductions in fuel prices. On April 10, the Dangote refinery cut petrol prices at its gantry to ₦865 per litre, prompting key partners to adjust pump prices in Lagos to ₦890 per litre. NNPC followed suit on April 21, reducing its prices to ₦880 per litre in Lagos and ₦935 in Abuja.
The renewed commitment between the two energy powerhouses signals a new chapter of collaboration—one aimed at ensuring affordability, stability, and long-term energy security for Nigeria.
