NNPCL confirmed its part-ownership in the Dangote Refinery, with CEO Mele Kyari refuting claims of alleged sabotage during a recent conference.
The Nigerian National Petroleum Company Limited (NNPCL) has publicly confirmed its part-ownership in the newly launched Dangote Refinery, countering recent allegations of interference in its operations.
Speaking at the Nigerian Association of Petroleum Explorationists conference in Lagos on Monday, NNPCL’s Group Chief Executive Officer, Mele Kyari, expressed pride in NNPCL’s role as a stakeholder and denied accusations of sabotage levied by Aliko Dangote.
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The refinery, a milestone project led by Dangote Group founder Aliko Dangote, has been under scrutiny, with Dangote alleging that certain entities within the oil sector, including NNPCL, were attempting to undermine its success.
In response, Kyari strongly refuted these claims, affirming that NNPCL values its involvement with the refinery and the opportunities it presents.
Kyari highlighted the strategic reasons behind NNPCL’s investment, citing the significant demand for crude oil refining within Nigeria.
He noted, “We are very proud part-owners of Dangote Refinery, no doubt about it. We saw an opportunity that there is a clear market for at least 300,000 barrels of our production.”
He further elaborated that as global oil markets shift, securing domestic refining capacity has become increasingly crucial for Nigerian crude producers.
“It’s an informed business decision,” Kyari explained. “This refinery offers a stable supply avenue for our production, ensuring that Nigeria’s oil can be refined domestically, reducing the need for exports and supporting local fuel demands.”
The Dangote Refinery, located in Lagos, is poised to play a critical role in reducing Nigeria’s reliance on imported fuel and bolstering local production capacity.
The NNPCL’s stake not only provides a guaranteed supply route for Nigerian crude but also aligns with the government’s goal of achieving energy self-sufficiency.
As Kyari underscored at the conference, NNPCL remains committed to fostering productive relationships with domestic refineries, including the Dangote Refinery, to ensure the sustained development and stability of Nigeria’s oil sector.
This statement signals a positive outlook for the refinery’s integration into Nigeria’s oil economy, dispelling claims of any internal disruptions.
