NNPC Woos More Refinery Investors

NNPC Woos More Refinery Investors

 The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, in Lagos, yesterday assured that Federal Government would provide enabling environment for private investors of refineries to thrive in the country.

Speaking while receiving Alhaji Aliko Dangote, the President and Chief Executive Officer of the Dangote Group, at the NNPC Towers, Kyari, noted that the ultimate goal was to enhance in-country production to the point of self-sufficiency and ultimately for export.

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He declared that the national oil company was not in contest for market share with the forthcoming Dangote Refinery, but rather providing support to the promoters of the project to boost in-country refining capacity.

He added that as the chief enabler of the Nigerian economy, the NNPC had a duty to rally industry players like Dangote Group to achieve the long held target of making Nigeria a net exporter of petroleum products.

In his presentation, Alhaji Dangote emphasised that the business approach of the Dangote Refinery, was to see NNPC as a collaborator rather than a competitor, noting that the refinery would rely heavily on the Corporation’s invaluable knowledge of the refining business in Nigeria to achieve its central objective.

He aligned his company with the Federal Government’s aspiration to ensure adequate in-country refining capacity, stating that upon completion the refinery would dedicate 53 per cent 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.