President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has reaffirmed plans to strengthen collaboration with the Nigerian National Petroleum Company Limited (NNPC Ltd.) to deepen the impact of the Dangote Petroleum Refinery and drive broader benefits for Nigerians.
Speaking on Saturday during a tour of the refinery facility by NNPC Group Chief Executive Officer Bayo Ojulari and other senior executives, Dangote said both organisations share a common objective of advancing Nigeria’s energy and industrial capacity.
“I think the sky is the limit …we will cooperate and work together to make Nigerians proud,” Dangote said, stressing a mutual commitment to partnership.
He also outlined ongoing discussions for possible joint ventures spanning the oil value chain, including potential upstream collaborations.
Dangote described the refinery complex not just as a processing plant, but as an industrial hub with opportunities for expanded economic participation.
The refinery has minority ownership by NNPC Ltd., which holds a 7.25 per cent stake on behalf of Nigerian citizens, the Dangote Group noted.
Plans are underway to broaden public participation by allowing individual investors to buy shares in the project in the coming months.
Dangote further said prospective investors could choose to receive dividends in naira or in dollars, reflecting the facility’s earnings in foreign exchange.
The refinery’s growth plans also include development of key petrochemical projects, such as production of linear alkylbenzene —a critical raw material for detergents which Dangote said will have enough capacity to serve the whole African continent.