Nigeria TV Info 
NNPC Eyes 20% Stake in Dangote Refinery to Strengthen Domestic Oil Supply

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is in advanced talks to acquire a 20% equity stake in the Dangote Refinery, Africa’s largest single-train refinery, in a strategic move aimed at boosting local refining capacity and ensuring energy security. The investment, estimated at over $3 billion, aligns with the government’s goal of reducing fuel imports and stabilizing prices.

According to industry insiders, discussions between both parties have reached a crucial stage, focusing on valuation, operational synergy, and supply agreements. The NNPC’s stake is expected to guarantee crude oil supply to the 650,000 barrels per day refinery while securing refined product availability for the domestic market.

Analysts view the potential deal as a game-changer for Nigeria’s downstream sector, enhancing collaboration between public and private entities to drive industrial growth. The Dangote Refinery, located in Lagos, commenced partial operations earlier this year and is projected to meet Nigeria’s fuel needs and export surplus products to other African nations.