The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, has criticised the Nigerian National Petroleum Company Limited (NNPCL) over its reported attempt to increase its stake in the Dangote Petroleum Refinery.

His reaction follows revelations by the President of the Aliko Dangote-led Dangote Group that the company turned down a request by the NNPCL to raise its 7.25 per cent equity stake in the refinery.

Dangote made the disclosure during an interview with Nicolai Tangen, CEO of Norway’s sovereign wealth fund, which was monitored on Wednesday.

Reacting to the development, Ukadike questioned the rationale behind the move, especially given the persistent challenges facing Nigeria’s state-owned refineries.

He expressed concern that the Port Harcourt, Warri, and Kaduna refineries under the NNPCL remain largely inactive despite years of rehabilitation efforts and significant financial investment.

Ukadike argued that instead of seeking a larger stake in a privately run refinery, the national oil company should prioritise fixing its own facilities.

“Why is NNPC trying to invest money in the Dangote refinery when it has three refineries that are not working? Why is it not investing that money in those ones?” he asked.

He further described the situation as illogical, questioning why a state-owned firm would pursue equity in a functioning private refinery while its own assets remain dormant.

According to him, the focus should be on restoring local refining capacity rather than expanding influence in privately owned infrastructure.

On Dangote’s decision to reject the request, Ukadike said the billionaire industrialist had every right to protect his business interests.

He noted that Dangote, as a private investor, is entitled to make strategic decisions aimed at avoiding operational or governance conflicts.

Ukadike also urged the NNPCL to redirect attention toward repairing pipelines and reviving national refineries, insisting that strengthening existing public assets would better serve Nigeria’s energy sector than expanding stakes elsewhere.