Entity

NNPC Limited is Nigeria's wholly state-owned national oil company (NOC), fully owned by the Federal Government of Nigeria, and Africa's largest oil producer and supplier. Its transformation from a statutory corporation into a limited liability company under the Petroleum Industry Act (PIA) of 2021 was designed to allow it to operate commercially — free from direct government operational control — while remaining under federal ownership. NNPC Limited is now governed by a Board of Directors and operates under a mandate to pursue commercially viable ventures across the entire energy value chain, including upstream exploration and production, gas development, refining, pipelines, distribution, petrochemicals, and LNG.

The company operates through a network of subsidiaries covering the full spectrum of Nigeria's petroleum industry, including upstream investment management via NAPIMS, domestic gas infrastructure via the Nigerian Gas Company (NGC), and a flagship LNG export business through its participation in Nigeria LNG Limited (NLNG). Despite its commercial restructuring, NNPC Limited remains fully state-owned and has not yet been listed on any public exchange — though its commercial transformation is widely seen as a preparatory step toward a potential future public offering.

In the context of the Dangote Petroleum Refinery, NNPC Limited holds a 7.25% equity stake in the operating entity, representing Nigeria's sovereign participation interest in the asset.