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Dangote Refinery, NNPCL Will Work Together, ‘Make Nigerians Proud’ — Dangote

Naija News • Feb 21
Dangote Refinery, NNPCL Will Work Together, ‘Make Nigerians Proud’ — Dangote
**Nigeria's Energy Future: Dangote Refinery and NNPC Join Forces** In a move that promises to transform Nigeria's energy landscape, Aliko Dangote, the billionaire president of the Dangote Group, has announced plans to deepen cooperation with the Nigerian National Petroleum Company Limited (NNPC Ltd.). This partnership aims to unlock the full potential of the Dangote Refinery, the largest single-train refinery in the world, and create opportunities for Nigerians to invest directly in the project. **A New Era of Collaboration** Dangote, known for his business acumen and vision, emphasized that both organizations share a common goal of advancing Nigeria's energy and industrial capacity. He expressed his enthusiasm for the partnership, stating that "the sky is the limit" for what can be achieved together. The NNPC's Group Chief Executive Officer, Bayo Ojulari, recently toured the refinery, marking the beginning of a new era of cooperation. **Unlocking Opportunities** The partnership is expected to create opportunities for joint ventures across the value chain, including upstream activities. Dangote hinted that discussions are underway to explore potential partnerships in areas such as crude oil production. The refinery, which is already an industrial hub, is expected to become a continental supplier of essential raw materials, including linear alkylbenzene used in detergents. **Nigerians to Own a Stake** NNPC holds a minority stake in the refinery on behalf of Nigerian citizens, representing 7.25% of the shares. However, plans are underway to broaden participation and allow individuals to invest directly in the project. Dangote announced that Nigerians will have the opportunity to buy shares in the next four to five months, giving them a stake in the refinery's success. Investors will also have flexibility in how they receive returns, with the option to receive dividends in naira or dollars. **A Bright Future Ahead** The partnership between Dangote Refinery and NNPC Ltd. has the potential to transform Nigeria's energy sector and create new opportunities for growth and development. With the refinery expected to become a continental supplier of essential raw materials, Nigeria is poised to become a major player in the global energy market. As Dangote aptly put it, "we will cooperate and make sure that we work together to make Nigerians proud."
Source: Original Article. AI-enhanced version.