NNPCL Stake in Dangote Refinery Protects National Interest, Say Reps

By 𝔸bdulrazak Tomiwa

The House of Representatives has stated that NNPCL’s 7.25% equity stake in the Dangote Refinery is vital for securing national interests.

This partnership ensures public accountability and gives the government a voice in Africa’s largest industrial project.

Lawmakers described the move as a major shift in energy reform, moving from state-only control to a collaborative public-private model.

They believe having the national oil company as a partner is key to the refinery’s long-term success.

The project is expected to end Nigeria’s reliance on fuel imports by leveraging its 650,000 barrels-per-day capacity.

This shift aims to strengthen energy security and restore confidence in the country’s industrial potential.

The House commended NNPCL leadership for supporting President Tinubu’s vision of economic restructuring.

They emphasized that public institutions must actively participate in private investments to ensure measurable benefits for all Nigerians.

Beyond fuel, the refinery’s petrochemical components will supply raw materials for local manufacturing. This industrial expansion is designed to boost domestic production and significantly reduce the demand for foreign exchange.

The House pledged continued legislative support for policies that promote transparency and regulatory discipline. They stressed that energy reform must be integrated across the entire value chain to be truly effective.

Ultimately, the legislators believe this partnership will stabilize markets and drive durable economic growth. If managed with integrity, they see it as a primary pillar for Nigeria’s future economic renewal.