NNPC Not Competing With Dangote Refinery – Kyari

The Nigerian National Petroleum Corporation (NNPC) has said that the National oil firm is not in any form of competition with the ongoing refinery embarked upon by Dangote Group.

The Group Managing Director of NNPC, Mallam Mele Kyari, disclosed this on Wednesday while receiving the Chief Executive Officer of the Dangote Group, Alhaji Aliko Dangote, at the NNPC Towers.

According to a statement issued by the Group General Manager, Group Public Affairs Division, of the NNPC, Ndu Ughamadu, Kyari explained that as the chief enabler of the Nigerian economy, the NNPC is rather interested in providing support to the promoters of the project to boost in-country refining capacity.

Kyari further stated that it is the duty of the Corporation to rally industry players like Dangote Group to achieve the long-held target of making Nigeria a net exporter of petroleum products by enhancing in-country production to the point of self-sufficiency.

Earlier in his presentation, Alhaji Dangote emphasized that the business approach of the Dangote Refinery would rely heavily on the Corporation’s invaluable knowledge of the refining business in Nigeria to achieve its central objective.

Dangote added that upon completion, the refinery would dedicate 53 percent of its projected 650,000 barrels per day refining capacity to the production of petrol.

“The most important thing for us is to see how we can partner with NNPC, it is not to see how we can compete with NNPC. We would like NNPC to be part of us and we also want to be part of NNPC.  I think that is the only way we can achieve a win-win situation,” he said.