A key strategic move to secure a $1 billion loan, backed by the Nigerian National Petroleum Company Limited’s (NNPCL) crude, played a crucial role in supporting the Dangote Refinery during liquidity challenges, ultimately paving the way for the establishment of Nigeria’s first private refinery.
This was disclosed by Olufemi Soneye, the Chief Corporate Communications Officer of NNPCL, during his address at an Energy Relations Stakeholder Engagement in Abuja.
Soneye emphasized that the initiative highlights NNPCL’s commitment to fostering public-private partnerships that contribute to national development. He praised the leadership of Mele Kyari, under which NNPCL has achieved significant milestones, reshaping Nigeria’s oil and gas sector.
He also highlighted the restart of the Port Harcourt Refinery as a major turning point in Nigeria’s pursuit of energy self-sufficiency and reaffirmed the company’s dedication to revitalizing the country’s refining capacity.
Additionally, Soneye pointed out that NNPCL has been at the forefront of promoting the use of Compressed Natural Gas (CNG) as a cleaner and more affordable energy alternative for Nigerians, especially in the face of rising global energy prices
