The Chief Executive Officer (CEO) of Dangote Refinery, Aliko Dangote, has revealed that the Nigerian National Petroleum Corporation (NNPC) Limited no longer owns a 20% stake in Dangote Refinery.
Dangote disclosed this during a press briefing at the refinery on Sunday.
The business mogul revealed that the Nigerian oil company now owns only 7.2% of the refinery due to the NNPC’s failure to pay the balance of their share, which was due last month in June.
Selected for you
- Lagos Indigenes Write Gov, Demand Details Of Dangote’s $100M Land Purchased
- Why Petrol, Diesel Prices May Not Drop Despite Dangote Refinery — Experts
Dangote Refinery Should Be Fully Supported – Peter Obi
Dangote Refinery Ships Fuel To Singapore, Assures Petrol Supply In July
Dangote Refinery Plans 5.3bn Litres Fuel Storage
He stated that while the NNPC had promised to provide the funds, it has been unable to meet its obligations, thus reducing its stake in the $19 billion refinery to 7.2%.
“NNPC no longer owns 20% stake in the Dangote refinery. They were met to pay their balance in June, but have yet to fulfill the obligations. Now, they only own a 7.2% stake in the refinery,” Dangote said.
Share on WhatsApp
Share on Twitter
Share on Facebook
Be the first to comment