KEY POINTS

• NNPC and Dangote have put their differences behind and chosen collaborative strategic efforts.
• Both the organizations emphasised healthy competition and national energy security.
• A flare-up in crude-for-naira deal signals increasing consensus between the firms.

Months of rivalry and tension have prompted NNPC Ltd. and Dangote Petroleum Refinery & Petrochemicals to begin to make noises about mending their broken relationship and embracing larger cooperation within the country’s oil and gas industry.

The decision is being taken in the midst of new initiatives to guarantee energy security and shared economic well-being for Nigerians. Two sides met this week at the NNPC Towers in Abuja, where they decided to enhance cooperation but continue competitive also.

Dangote visits NNPC leadership

Aliko Dangote, President of Dangote Group, promised the support of his company to the national oil firm during a courtesy visit to NNPC’s new Group Chief Executive Officer, Bashir Bayo Ojulari. Members of Dangote’s delegation and senior management team of NNPC also composed part of the visit.

We do not compete, Dangote said. Venture is in NNPC and NNPC is also in our venture. This is an age of joint venture between the two organizations.

Dangote praised the GCEO and his team and highlighted the massive role they carry in determining Nigeria’s energy future. He had faith in the ability of leadership of NNPC to deliver outcomes.

Commitment to energy security

In a response to Dangote’s comments, Ojulari re-echoed NNPC’s sincerity in establishing a mutualistic partnership. He praised the commitment and talent of the company’s workforce and drew attention to the need to create a national prosperity prescription of a legacy based on innovation and shared vision.

Ojulari said NNPC would continue reaching out for commercial opportunities that are in conformity with national interest and also noted that the company identifies value in partnership with Dangote Group in strategic areas.

From competition to NNPC and Dangote collaboration

The latest development follows several months of tensions between the two energy titans including a pricing dispute that failed a time to halt the crude-for-naira deal set off by the federal government. The deal later came back after an overhaul of the leadership of NNPC.

Making it through this conflict period is the focus of the current leadership in the words of Chief Corporate Communications officer Olufemi Soneye. Ojulari and Dangote consented to bid as Relationship Managers on both organizations for purposes of consistent communication and mutual advancement.

The meeting of our visions means unlimited potential to both companies and to Nigeria, this in is the reason for the NNPC and Dangote collaboration, said Ojulari.