The Nigerian National Petroleum Company (NNPC) Limited and
the Dangote Petroleum Refinery have pledged to promote mutually beneficial
partnerships and foster healthy competition.
In a statement on Thursday, the NNPC said both organisations
made the pledge when Aliko Dangote, president of the Dangote Group, visited
Bayo Ojulari, NNPC’s group chief executive officer (GCEO), at his office in
Abuja.
According to the statement, the NNPC GCEO and Dangote
“committed to enhancing cooperation to support Nigeria’s energy security and
promote shared prosperity for its people”.
Dangote was said to have pledged work with the new NNPC
management to help secure the country’s energy future during the meeting.
“There is no competition between us, we are not here to
compete with NNPC Ltd. NNPC is part and parcel of our business, and we are also
part of NNPC. This is an era of co-operation between the two organisations,”
Dangote added.
While congratulating the GCEO and senior management team on
their “well-deserved appointments”, Dangote acknowledged the weight of the
responsibility ahead.
He said the NNPC GCEO faces a significant challenge, but
expressed confidence that, “with the capable team at NNPC, it can be overcome”.
In his remarks, the NNPC GCEO assured Dangote of a win-win
partnership built on fair competition and meaningful collaboration.
Ojulari said he was impressed by the high-quality talent
within the NNPC, describing its staff as dedicated, highly skilled, and
hardworking professionals focused on creating value for Nigeria.
Highlighting the company’s commitment to fostering national
prosperity through innovation and shared vision, Ojulari said the NNPC will
maintain its partnership with the Dangote Group, particularly where it serves
Nigeria’s commercial interests.
The NNPC and Dangote have been at loggerheads over the
supply of crude oil as well as petroleum products’ prices.
The sale of crude oil and refined petroleum products in
naira to local refineries commenced on October 1, 2024, to improve supply, save
the country millions of dollars in petroleum products imports, and ultimately
reduce pump prices.
On March 10, TheCable reported that the NNPC had halted the
naira-for-crude deal until 2030, as the government-owned company has
forward-sold all its crude oil.
Nine days later, the Dangote refinery said it had
temporarily halted the sale of petroleum products in naira.
However, on April 9, the federal government said the
naira-for-crude oil deal will continue after the first phase, which ended on
March 31.
Consequently, on April 10, the refinery reduced the price of
petrol at its gantry to N865 per litre.
The refinery also said its key partners would cut pump
prices to N890 per litre in Lagos.
Similarly, on April 21, the NNPC slashed the price of petrol
at its outlets to N880 per litre in Lagos and N935 per litre in Abuja.
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