The Deputy Spokesman of the House of Representatives, Hon. Philip Agbese, has described the partnership between the Nigerian National Petroleum Company (NNPC) Limited and Dangote Petroleum Refinery as a defining moment for Nigeria’s economic transformation.
Speaking in Abuja, Agbese said the national oil company’s 7.25 percent equity stake in the refinery embeds public interest directly into one of Africa’s largest industrial projects, ensuring that Nigerians share in both its risks and rewards.
According to him, the 650,000-barrel-per-day refining capacity marks a structural shift from decades of import dependence toward domestic processing strength.
“For decades, our national conversation was dominated by refining shortfalls and import dependency. Today, we are discussing a facility designed for 650,000 barrels per day that is already proving its operational strength.
“This will strengthen energy security and restore confidence in Nigeria’s industrial capability. When the national oil company retains a 7.25 percent stake in a strategic asset of this magnitude, it ensures that national interest is embedded in its success.”
Agbese said the collaboration reflects a model in which government institutions actively align with private capital to achieve measurable outcomes rather than operating in isolation.
He commended the leadership of NNPC, particularly its Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, for advancing what he described as President Bola Tinubu’s broader vision of economic restructuring and industrial expansion.
“This is how reform should function. Public institutions must not stand apart from transformative private investments. They must participate, supervise and align for measurable outcomes.
“I commend Engr. Bashir Bayo Ojulari, the Group CEO of the NNPC, for demonstrating a clear understanding of the vision of President Bola Tinubu on economic restructuring, private sector participation and industrial growth.”
Beyond fuel production, the lawmaker pointed to the refinery’s planned 400,000-metric-tonne Linear Alkyl Benzene facility as evidence that the project is targeting higher-value manufacturing segments. He said the petrochemical expansion could reduce foreign exchange pressure by supplying raw materials locally for detergents, plastics and other industrial inputs currently imported.
Agbese argued that long-term energy reform must connect upstream oil production, gas supply, refining and petrochemicals in a coordinated chain to eliminate inefficiencies and stabilise markets. Such integration, he said, would have ripple effects across agriculture, manufacturing and trade.
He assured that the House of Representatives would continue to back policies that strengthen transparency, regulatory discipline and accountability in strategic partnerships within the energy sector.
According to him, sustained collaboration between public institutions and large-scale private investments could become a cornerstone of Nigeria’s economic renewal, provided it is driven by performance, oversight and measurable national benefit.
