KEY POINTS
- NNPC’s 7.25% stake in Dangote Refinery helps stabilize
- Nigeria’s fuel supply Completion of AKK pipeline will expand gas access to northern industrial hubs
- Ojulari calls for NNPC transformation into a globally competitive, commercially driven company
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPC, Bayo Ojulari, has said the company’s collaboration with the Dangote Refinery has strengthened Nigeria’s fuel supply chain. Speaking at the CERAWeek by S&P Global in Houston, United States, Ojulari highlighted NNPC’s 7.25% equity stake in the refinery as a key factor in improving domestic product availability.
Ojulari explained that close coordination with the Dangote Group on crude supply and product distribution has contributed to the current stability in the Nigerian market.
He also pointed to ongoing work to complete the Ajaokuta-Kaduna-Kano (AKK) gas pipeline, which is expected to increase gas access in northern Nigeria, support industrial hubs, create jobs, and enhance power supply.
“Domestically, gas has already created industrial hubs in the Southeast, including Aba and Umuahia, and in the Southwest, such as Lagos, Abeokuta, and Ogun State,” Ojulari said. “We are pushing hard to complete the AKK pipeline to expand gas availability to the North, including Kano, to drive job creation and power supply.”
On the broader strategy for NNPC, Ojulari emphasized transforming the company into a globally competitive entity similar to Saudi Aramco, Petronas, or Petrobras. He called for cooperation from the legislature, executive, judiciary, and the Nigerian public to ensure that NNPC operates as a commercial, private-sector-led organization under the Petroleum Industry Act.
Ojulari Expresses Support for President Tinubu
Ojulari also expressed support for President Bola Tinubu’s Executive Order 9, aimed at enhancing cost efficiency and transparency in upstream petroleum operations. While some industry stakeholders, including the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), raised concerns, Ojulari underscored NNPC’s collaboration with the implementation team to ensure smooth execution of the order.
He concluded that consolidating energy security for Nigerians remains the company’s priority, emphasizing that the journey toward a performance-focused and commercially viable NNPC requires cultural change alongside strategic reforms.
