Chairman of the Dangote Group, Aliko Dangote has lauded President Bola Tinubu’s appointment of Engr. Bayo Ojulari as Group Chief Executive Officer and Ahmadu Musa Kida as Non-executive Chairman of the Nigerian National Petroleum Company Limited (NNPCL) as he recently lashed out at the powerful ‘oil cabal’ in the country.
Speaking after a courtesy visit to the Presidential Villa Monday, Dangote described the duo as “formidable and professionally competent,” noting that their combined technical expertise and industry experience “perfectly align with the President’s ambition for a $1 trillion economy.”
Dangote, who had a tumultuous relationship with the NNPCL under its ousted former boss, Mele Kyari, added that under the new leadership, “NNPCL will tackle systemic challenges, boost local refining capacity, and restore Nigeria’s energy security.”
Clarifying recent remarks about fighting an “oil cabal” undermining his $20 billion refinery, Dangote emphasized those comments were not aimed at the new NNPCL team but at vested interests resisting sector reforms.
According to reports, Dangote had pointed out that some individuals who “for a very, very long time” have “made a lot of money from” government-subsidised oil imports into Nigeria, were the ones trying to sabotage the 650,000 barrels per day oil refinery situated in Lekki, Lagos.
“Those groups have funded resistance to the Bola Tinubu government’s removal of petrol subsidies and are opposed to the refinery operating easily in the country,” Dangote was quoted as saying.
He praised Ojulari’s early support with his refinery’s logistical needs and reaffirmed his confidence in the board’s collaborative spirit.
The NNPCL shake-up follows the abrupt removal of Mele Kyari, who had led company since 2019. Official statements cited underperformance—chronic fuel shortages, non-functional state refineries, and ballooning subsidy burdens—as key reasons for his dismissal. While Kyari did convert NNPC into a commercial entity under the 2021 Petroleum Industry Act, critics say the measure did little to revive local refining or reduce import dependence.
Pan-Atlantic Kompass had reported that the sacked NNPCL officials including Kyari, who were arrested by the Economic and Financial Crime Commission over the weekend, are currently embroiled in a $2.9billion corruption probe.
Following the purging of NNPCL, President Tinubu’s newly constituted 11-member board, representing all geopolitical zones, is charged with ambitious targets: raising crude production to 2 million barrels per day by 2027, boosting gas output to 8 billion cubic feet per day, and lifting NNPCL’s own refining share to 200,000 barrels daily—all critical steps toward diversifying Nigeria’s economy.
Dangote has now urged continued backing for Ojulari and Kida, stressing that “strong leadership at NNPCL is essential to unlock investment, stabilize supply, and achieve our national growth targets.”
