NNPC Seeks Foreign Partners for Revival with Dangote's Support

The Nigerian National Petroleum Corporation (NNPC) is targeting foreign partners to revitalize its state-owned refineries, with Dangote Petroleum Refinery offering crucial support. NNPC aims to involve equity sales, technical expertise, and operational competence in the refineries' reset strategy.

The CEO, Bayo Ojulari, emphasized the need for sustainable operations and self-financing. Despite past rehabilitation efforts, Nigeria's refineries have operated below capacity, leading to heavy fuel imports.

Ojulari praised Dangote's refinery for stabilizing the sector amid challenges.