The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, on Wednesday said Nigerians should be grateful for the operational Dangote Refinery, describing it as a major relief to the country’s fragile fuel supply system.
Ojulari spoke at the International Energy Summit 2026 in Abuja, where he said the 650,000 barrels-per-day refinery had helped cushion the impact of supply disruptions and reduced Nigeria’s dependence on imported petroleum products.
“Thank God for Dangote Refinery. Thank God. Whether you love Dangote or you hate him, Nigerians should thank God for Dangote,” he said to applause from participants.
He added, “Thank God he’s a Nigerian. He’s not someone from another continent or another planet. Despite everything, that gave us an opportunity because we have a refinery that is working.”
Ojulari said although the privately owned refinery was yet to meet Nigeria’s full domestic fuel demand, its operations had created critical breathing space for the economy and energy sector.
“Yes, it may not meet our full needs, but it gives us a breathing space. And luckily, we are shareholders in that refinery as well,” he added.
The NNPCL boss disclosed that the company had deliberately adopted a collaborative rather than confrontational approach with the Dangote Refinery, noting that partnership was central to improving value delivery to Nigerians.
“Our strategy is to collaborate with the Dangote Refinery and maximise the value delivered to Nigerians,” he said.
Ojulari’s remarks come amid rising fuel prices nationwide following recent increases in ex-depot prices by the Dangote Refinery and other depot owners. The adjustments have pushed petrol pump prices in Abuja to between N839 and N905 per litre.
Energy analysts say the refinery, the largest single-train facility in the world, has the potential to transform Nigeria’s downstream petroleum sector by stabilising supply, conserving foreign exchange and reducing exposure to international market shocks once it reaches full capacity utilisation.
Ojulari, however, stressed that sustained collaboration between public and private sector players remained key to achieving long-term energy security and affordability for Nigerians.
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
