On Thursday, Aliko Dangote, who serves as the President/CEO of the Dangote Group, made a courtesy call on Mr. Bashir Bayo Ojulari, the Group CEO of Nigeria’s NNPC Limited, at his office in Abuja.
The top-tier conference conducted at the NNPC Towers centered around establishing advantageous collaborations and encouraging robust rivalry between Dangote Petroleum Refinery & Petrochemicals and NNPC Ltd. Both entities share an objective to bolster Nigeria’s energy stability and expedite economic growth.
The state-owned petroleum company announced the meeting between the two sides in a tweet posted on its official X account on Thursday.
This gathering represents the initial formal interaction for both sides since the unexpected dismissal of the previous NNPC GCEO, Mele Kyari, back in April, followed by the appointment of Mr. Bashir Bayo Ojulari as the new Group Chief Executive Officer of the Nigerian National Petroleum Company Limited.
Over the past few months, tensions have risen between the Dangote Group and NNPCL because of the problematic execution of the naira-for-crude oil agreement. Sources indicate that this arrangement hit roadblocks under former leadership owing to unclear terms and insufficient dedication from involved parties.
Nevertheless, reliable sources informed The PUNCH that the arrangement was reinstated following the emergence of new leadership, as NNPCL consented to recommence crude oil sales in Nigerian naira—this change apparently led to a reduction in the retail price of Premium Motor Spirit (gasoline) to around N915 per liter.
The situation became more tense due to NNPCL’s $1 billion equity contribution to the refinery project amid liquidity issues. However, the firm stated that this $1 billion oil-supported loan accounted for just five percent of the overall investment required to construct the 650,000-barrel-per-day facility.
On Thursday’s visit, Dangote highlighted the significance of cooperation in turning challenges deemed insurmountable into tangible achievements. He noted that partnerships within the field could spur expansion and boost industrial progress. Additionally, he commended the newly formed NNPC Ltd. management team for their profound knowledge and professional approach in the industry.
“I am highly impressed with the caliber and expertise of the newly assembled team. I am confident that we can collaborate effectively to accomplish remarkable achievements for our nation,” stated Dangote.
Ojulari characterized Dangote in his reply as an unpretentious African leader, whose accomplishments continue to instill continental pride. He commended the forward-thinking business figure for his role in fostering Africa’s industrial resurgence.
Ojulari mentioned that upon taking office, he discovered an abundance of remarkable talent at NNPC Ltd. He further stated that the organization is dedicated to achieving outstanding performance in the energy sector for the betterment of all Nigerians.
Both heads of organizations committed to acting as primary point persons for their entities, pledging to foster continuous, fruitful cooperation along with constructive rivalry for the benefit of their country.
Provided by Syndigate Media Inc. (
Syndigate.info
).
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