The announcement was made by Bayo Ojulari, Group Chief Executive Officer of NNPCL, at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025, one of the world’s largest energy events. Ojulari described the planned acquisition as a strategic investment that aligns with the company’s goal of expanding domestic refining capacity, stabilizing fuel supply, and reducing the nation’s reliance on imported petroleum products.
“The company is working towards increasing its stake in Nigeria’s Dangote Refinery to 20 per cent,” Ojulari said, according to Reuters.
The Dangote Refinery, located in Lagos, is Africa’s largest single-train refinery, capable of processing 650,000 barrels of crude oil per day. Built at a cost of approximately $20 billion, it has the potential to meet almost all of Nigeria’s domestic petroleum demand and export refined products to neighbouring countries.
Aliko Dangote, President of Dangote Industries Limited, previously confirmed that the expansion of NNPCL’s equity stake would be contingent upon the refinery demonstrating consistent operational performance. The planned move is seen as a way to integrate government-backed crude supply with private sector efficiency, potentially improving fuel availability and price stability across the country.
In a related development, NNPCL retail outlets in Abuja have lowered the pump price of petrol from ₦955 to ₦945 per litre, following improved fuel supply from the Dangote Refinery. Analysts say this reflects the broader impact of operational stability at private refineries on national fuel pricing.
Experts note that increasing NNPCL’s stake in a high-capacity private refinery could mark a pivotal shift in Nigeria’s energy sector. It would allow the government to move away from reliance on ageing, state-owned refineries in Port Harcourt, Warri, and Kaduna, which remain largely inactive despite decades of investment.
While details regarding the funding, valuation, and timeline for the stake increase are yet to be disclosed, the development signals a growing collaboration between Nigeria’s state-owned energy assets and private sector infrastructure—a trend seen as critical for achieving energy security and reducing foreign exchange outflows on fuel imports.
“We have invested over ₦6 billion in rehabilitating and reintegrating repentant Boko Haram members. This is part of a long-term strategy to restore peace, foster reconciliation, and rebuild trust among affected communities,” Tar said.
The program provides psychosocial support, skills acquisition training, education, and resettlement assistance for former fighters who have renounced violence and undergone security vetting. Officials say these efforts have helped thousands of ex-combatants transition successfully to civilian life, while also easing the burden on internally displaced persons (IDP) camps and host communities.
The initiative, popularly referred to as the Borno Model, operates in close partnership with the Nigerian Armed Forces, humanitarian organizations, and traditional leaders to ensure accountability and community acceptance. It has drawn interest from national and international partners as a potential template for post-conflict recovery in other regions affected by violent extremism.
Governor Babagana Umara Zulum has consistently defended the program, emphasizing that combining rehabilitation with security operations is a more sustainable approach to achieving lasting peace than military action alone. Security experts, however, continue to call for transparency, proper monitoring, and continuous community engagement to prevent former insurgents from returning to violent activities.
The Borno Model’s focus on reconciliation and empowerment highlights a broader shift in Nigeria’s counter-insurgency strategy—recognizing that peacebuilding requires not only military operations but also investment in human capital, social cohesion, and the socio-economic reintegration of former combatants.
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NNPCL Plans to Boost Stake in Dangote Refinery to 20%
ShareThe announcement was made by Bayo Ojulari, Group Chief Executive Officer of NNPCL, at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025, one of the world’s largest energy events. Ojulari described the planned acquisition as a strategic investment that aligns with the company’s goal of expanding domestic refining capacity, stabilizing fuel supply, and…
