In a high-level energy summit on Thursday, Dangote Group President, Aliko Dangote, paid a strategic courtesy visit to NNPCL Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, at the NNPC Towers in Abuja, Ojulari Pledge Collaboration with Dangote.
The closed-door meeting signals a renewed era of partnership between the two major players in Nigeria’s oil industry.
Focus on Collaboration, Competition, and Crude-for-Naira Framework
The engagement the first since Ojulari succeeded Mele Kyari in April centred on rebuilding trust and fostering healthy competition between Dangote Petroleum Refinery & Petrochemicals and the Nigerian National Petroleum Company Limited (NNPCL).
However, the national oil firm confirmed the meeting via its official X handle as Ojulari Pledge Collaboration.
Insiders disclosed that talks also revived the naira-for-crude deal, which had stalled under Kyari’s leadership.
Also, the renewed agreement is believed to have influenced the recent drop in PMS pump price to ₦915 per litre—a welcome shift in Nigeria’s fuel market.
$1bn Investment Controversy and Reassurance from Dangote
Tensions between the two parties had heightened in recent months over NNPCL’s $1 billion equity stake in Dangote Refinery.
Furthermore, the company later clarified that the investment constituted just 5% of the total refinery cost and was tied to a crude-backed loan, not a controlling stake.
During the visit, Dangote stressed the power of synergy in transforming “what many consider impossible into reality.”
He commended NNPCL’s new leadership for its “depth, expertise, and boldness.”
“I am very impressed by the quality and experience of the new team,” Dangote said.
“I believe we can work together to achieve great things for the country.”
Ojulari’s Praise and Commitment to National Development
In his response, Ojulari described Dangote as “a humble visionary and industrial icon whose impact resonates across Africa.”
Morever, he noted that since assuming office, he has encountered “exceptional talent within NNPCL” and pledged to work toward energy excellence and transparency.
Both leaders agreed to serve as direct liaison officers for their respective organisations.
With the aim of improving operational alignment, reduce frictions, and enhance energy security across the nation.
What This Meeting Means for Nigeria’s Energy Future
The strategic meeting marks a turning point for public-private cooperation in Nigeria’s petroleum space.
Also, with PMS pricing reforms, refinery output expansion, and improved stakeholder relations now in motion, industry players and consumers may begin to experience greater price stability and energy supply consistency.
More importantly, this meeting positions NNPCL and Dangote Refinery as collaborative forces, not rivals offering renewed hope for national economic resilience through energy independence.