By Ayomide Otitoju
President and Chief Executive Officer of Dangote Group, Aliko Dangote, on Thursday paid a courtesy visit to the newly appointed Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr. Bashir Bayo Ojulari, at the NNPC Towers in Abuja.
The strategic meeting marked the first official engagement between the two since Ojulari’s appointment in April, following the abrupt removal of former NNPCL boss, Mele Kyari. Discussions focused on deepening collaboration between Dangote Petroleum Refinery & Petrochemicals and NNPC Ltd., with an emphasis on enhancing Nigeria’s energy security and economic development.
In a statement via its official X handle, NNPC Ltd. disclosed that the engagement aimed at promoting mutually beneficial partnerships and fostering healthy competition within the oil and gas sector.
Relations between both entities had recently been strained, largely due to complications surrounding the naira-for-crude oil deal. Sources revealed that under the previous NNPCL leadership, the agreement stalled due to ambiguity and lack of commitment. However, it has since been revived, reportedly leading to a reduction in petrol prices to N915 per litre.
Another point of tension had been NNPCL’s $1 billion investment in the Dangote Refinery project amid liquidity concerns. NNPCL has clarified that the investment, backed by crude, accounted for only five per cent of the $20 billion required to develop the 650,000-barrels-per-day facility.
During the meeting, Dangote praised the new NNPCL management, highlighting the team’s professionalism and extensive industry expertise. He reiterated the importance of cooperation in realizing shared goals.
“I am very impressed by the quality and experience of the new team. I believe we can work together to achieve great things for the country,” he said.
Ojulari, in his remarks, lauded Dangote’s contributions to industrial development and described him as a model of humility and leadership in Africa.
“His achievements continue to inspire pride across the continent,” Ojulari noted, affirming his commitment to excellence in the energy sector.
The two leaders agreed to act as direct relationship managers for their respective organisations, pledging sustained collaboration in the national interest.
