Dangote pays first visit to NNPCL’s Bashir Ojulari, discusses partnership

Aliko Dangote

President of Dangote Group, Aliko Dangote, on Thursday visited the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bashir Ojulari, at the NNPC Towers in Abuja.

The courtesy visit marked the first official meeting between both parties since the removal of former NNPCL boss Mele Kyari in April and Ojulari’s appointment as his successor.

According to a post shared on NNPCL’s official X handle, the meeting was aimed at promoting mutually beneficial partnerships and fostering healthy competition between Dangote Petroleum Refinery & Petrochemicals and NNPCL Ltd., with the shared goal of strengthening Nigeria’s energy security and accelerating economic prosperity.

In recent months, relations between the Dangote Group and NNPCL had grown tense following the troubled implementation of the naira-for-crude oil deal.

Sources indicated that the deal stalled under the previous management due to a lack of clarity and commitment.

However, under the new leadership, the agreement was revived, with NNPCL agreeing to resume crude sales in naira, a move that reportedly led to a drop in the pump price of Premium Motor Spirit (petrol) to N915 per litre.

Tensions had also escalated over NNPCL’s $1bn equity investment in the Dangote refinery project amid liquidity challenges.

Despite the concerns, the company clarified that the $1bn crude-backed loan represented only five percent of the total investment in building the 650,000 barrels per day refinery.

During the visit, Dangote highlighted the importance of collaboration in transforming seemingly impossible ventures into reality.

He stressed that synergies within the sector could catalyse growth and industrial development. He also praised the new NNPC Ltd. management for its expertise and professionalism.

“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,” Dangote remarked.

In his response, Ojulari described Dangote as a humble African leader whose achievements continue to inspire pride across the continent. He commended the visionary entrepreneur for his contributions to Africa’s industrial renaissance.

Ojulari further noted that since taking office, he had encountered exceptional talent within NNPCL, adding that the organisation is focused on delivering excellence in the energy sector for the benefit of all Nigerians.

Both leaders agreed to serve as direct relationship managers for their respective organisations, vowing to pursue sustained, productive collaboration and healthy competition in the national interest.