…As Ɗangote Group plans public share offer
The Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has described the Dangote Petroleum Refinery as a “world-class technological marvel,” urging Nigerians to take pride in what he called one of the boldest industrial achievements in the country’s history.
Ojulari made the remarks at the weekend during a landmark visit to the 650,000-barrels-per-day facility, accompanied by members of the NNPC Board and executive management team — the company’s first official tour of the refinery.
Commending billionaire industrialist Aliko Ɗangote for his leadership and vision, Ojulari said the sheer scale and sophistication of the refinery have elevated Nigeria’s profile on the global energy stage. Although he had previously reviewed technical reports and videos of the plant, Ojulari said seeing it firsthand revealed the full extent of its advanced architecture and cutting-edge systems.
Addressing concerns about the refinery’s “single train” configuration – a design sometimes considered risky – the NNPCL boss explained that the facility incorporates built-in redundancies and advanced digital systems, including artificial intelligence (AI) and modern engineering technologies, ensuring high reliability and operational efficiency.
He also disclosed that the refinery has already exceeded its nameplate capacity, recently reaching 661,000 barrels per day – surpassing its planned 650,000-barrel output. He described the performance as remarkable and worthy of national pride.
Ojulari further revealed that expansion plans are underway using a replication model that would duplicate the facility’s design to significantly increase capacity while reducing capital and operational costs through shared infrastructure and synergies. As a shareholder, he said NNPCL fully supports the expansion drive. NNPCL currently holds a minority stake of about 7 to 7.25% in the refinery on behalf of Nigerians.
In a major development, Ɗangote announced that Nigerians will soon be able to invest directly in the refinery, as arrangements are being finalised for a public share offer within the next four to five months. He said the move is aimed at broadening ownership of the mega project and giving citizens an opportunity to participate in its long-term growth.
According to Ɗangote, prospective investors will have flexibility in receiving dividends, with options to earn returns in naira or dollars, reflecting the refinery’s foreign currency earnings.
Beyond the share offer, Ɗangote disclosed plans to deepen collaboration with NNPC across the oil and gas value-chain, including possible upstream partnerships. He also described the refinery as an emerging industrial hub rather than just a fuel-processing plant. Among ongoing projects is the planned production of linear alkylbenzene – a key raw material used in detergent manufacturing – expected to supply markets across Africa within the next 30 months.
Both leaders expressed confidence that stronger collaboration and broader public participation would enhance Nigeria’s energy security, drive economic growth, and reinforce national pride in the landmark project.
