NNPC is gearing up to take on the Dangote Refinery and other major players in the industry.
According to Bayo Ojulari, the company’s CEO, they’re planning to increase their stake in the Dangote Petroleum Refinery to 20%. This move is part of their strategy to strengthen Nigeria’s domestic refining capacity and reinforce their influence in the downstream oil sector.
Ojulari also mentioned that NNPC is seeking partnerships with experienced private entities to revive its three state-owned refineries in Port Harcourt, Warri, and Kaduna, which have been non-operational for over a decade. The goal is to restore these refineries to international standards and make them commercially viable.
Additionally, NNPC aims to increase Nigeria’s crude output to 2 million barrels per day by 2027 and attract up to $60 billion in investments by 2030. The company is also working towards becoming a publicly listed company, as mandated by the Petroleum Industry Act.
