President of the Dangote Group, Aliko Dangote, has said his company will strengthen collaboration with the Nigerian National Petroleum Company Limited (NNPC Ltd.) to enhance operations at the Dangote Refinery and generate broader benefits for Nigerians.
Dangote made the remarks to journalists on Saturday during a tour of the refinery by NNPC’s Group Chief Executive Officer, Bayo Ojulari. He outlined plans for deeper cooperation, potential upstream partnerships and opportunities for public investment in the project.
The industrialist stressed that both organisations are united in their goal of strengthening Nigeria’s energy and industrial capacity.
“I believe the sky is the limit and we [NNPC and Dangote Refinery] will cooperate and ensure that we work together to make Nigerians proud,” he said.
Addressing questions on areas of collaboration beyond the refinery’s expansion, Dangote disclosed that discussions are ongoing regarding possible joint ventures across the value chain.
“Depending on our discussions with them, we may partner in certain upstream activities. They, too, will collaborate with us here because this is not merely a refinery; it is an industrial hub,” he explained.
NNPC Stake and Public Participation
Dangote highlighted the national ownership aspect of the project, noting that NNPC holds a minority share in the refinery on behalf of Nigerians.
“They hold 7.25 per cent of the shares here… and they are holding that on behalf of Nigerians,” he said.
He further revealed that plans are in place to widen participation by enabling individuals to invest directly in the refinery.
“Within the next four or five months at most, Nigerians will have the opportunity to purchase shares,” he stated.
According to Dangote, investors will be offered flexibility in receiving returns.
“Shareholders may choose to receive their dividends in naira or in dollars, as we generate revenue in dollars,” he said.
He added that new industrial ventures within the complex — including the production of linear alkylbenzene used in detergents — are expected to position the facility as a major supplier across Africa.
“That raw material for detergent will be sufficient for the entire African continent, and we expect to deliver this within the next 30 months,” he added.