Dangote Refinery Open to NNPC Stake Increase, Plans Share Sale to Nigerians

The Dangote Refinery is considering selling shares to Nigerians and allowing NNPC to acquire more stake in the company. Aliko Dangote, the head of Dangote Group, revealed plans to list the refinery's shares on the Nigerian Stock Exchange while aiming to retain 65-70% ownership.

NNPC's interest in expanding its stake in the refinery was confirmed by Bayo Ojulari, the new CEO of NNPC Ltd. The move comes as part of a strategic shift to invest in cleaner energy sources like Compressed Natural Gas (CNG).

Former NNPC spokesperson Olufemi Soney highlighted the company's focus on developing CNG infrastructure in Nigeria.