Nigerians who believe the Federal Government through the Nigerian National Petroleum Company Limited (NNPCL) have been shocked by the reality that the NNPCL only own 7.2%.
This was disclosed by the Chief Executive Officer of Dangote Refinery, Aliko Dangote on Sunday at a press briefing in Lagos State, clarifying the current ownership structure of the refinery.
The businessman explained that the NNPCL failed to meet its obligations by paying the remaining balance by June.
He said, “NNPC no longer owns a 20% stake in the Dangote refinery. They were meant to pay their balance in June but have yet to fulfill the obligations. Now, they only own a 7.2% stake in the refinery.”
In June, Dangote Industries Limited’s (DIL) Vice President of Oil and Gas, Devakumar Edwin, alleged that International Oil Companies (IOCs) in Nigeria were deliberately undermining the Dangote Oil Refinery and Petrochemicals project, actively working against its success.
During a training programme for Energy Editors hosted by the Dangote Group, Edwin revealed that International Oil Companies (IOCs) were hindering the refinery’s attempts to procure local crude oil by artificially inflating prices, compelling the refinery to import crude from distant nations like the United States, thereby increasing production costs.
