Niger State Encourages Private Investment in Oil Exploration
The Niger State Government has urged the Dangote Group and other private investors to seize opportunities for oil exploration in the Bida Basin. This call came during the recent Niger National Exhibition Center event, hosted in Minna from May 13 to May 23. A “Dangote Special Day” was incorporated into the program to showcase local products and foster industrial collaboration.
Partnerships for Economic Growth
During a fireside chat at the event, Aminu Takuma, Secretary for Trade, Investment, Industry, and Private Sector Development, highlighted the state government’s strategy to collaborate with private entities through a one-stop-shop investment model aimed at harnessing the crude oil resources of the Bida Basin. He emphasized that the government plans to maintain only a minimal stake in this initiative through a joint venture/public-private partnership (JV-PPP) framework.
Commending Industrial Progress
Takuma lauded the Dangote Group for its significant strides in industrialization, notably the establishment of what he termed the world’s largest single-train refinery. His remarks underscored Niger State’s commitment to cultivating a business-friendly environment and enacting policies that would attract investors across critical economic sectors.
Commitment to Collaboration
Fatima Abdulrahman, Regional Director and Senior Advisor at Dangote Group, expressed her belief that the company is a natural partner for Niger State, referencing their investment in rice processing facilities in Ushisi. She also commended Governor Mohammed Bago for implementing investor-friendly policies designed to stimulate economic growth and promote industrial development within the state. Abdulrahman reaffirmed Dangote Group’s dedication to continuing its partnership with the Niger State Government.
Engaging Stakeholders
The discussion panel featured key figures, including the Commissioner for Homeland Security and the Commissioner for Agriculture and Food Security. Additionally, Mr. Umar Bakai, a representative of the Emir of Minna, attended the special event celebrating Dangote Group’s contributions. The company served as the primary sponsor for the trade fair.
Expanding Oil and Gas Interests
In recent months, Dangote Group has intensified efforts to broaden its oil and gas exploration endeavors across Nigeria and other regions in Africa. The Dangote Oil Refinery recently achieved its first crude oil production from upstream assets, announcing plans to commence the pumping of marketable crude oil in the near future. This step aims to secure a stable feedstock supply for the refinery located near Lagos.
Production Growth on the Horizon
Currently, the company is producing approximately 4,500 barrels per day from the Karaekul field on Oil Mining Lease (OML) 72, following a delayed startup that commenced in December 2025. As indicated by Olajumoke Ajayi, CEO of Dangote’s upstream joint venture, West Africa Exploration and Production (WAEP), production levels are expected to rise to 15,000 barrels per day in the coming weeks.
Strategic Investment Plans
Dangote Group maintains an 85% stake in WAEP, which holds a 45% interest in OML 71 and 72. The remaining shares are owned by the Nigerian National Petroleum Corporation (NNPC Ltd), with First E&P managing operations. Earlier this month, Aliko Dangote, president of the Dangote Group, disclosed plans to invest an additional $45 billion toward refinery expansion, liquefied natural gas infrastructure, and various regional industrial initiatives. This investment is part of a broader strategy to boost annual revenue to $100 billion, with an ambitious goal of reaching $200 billion by 2030.
