Africa’s richest man, Aliko Dangote, is willing to sell his multi-billion-dollar oil refinery to NNPC Limited, Nigeria’s state-owned energy company, amid unresolved differences with the federal government. ..Read Full Article
The 650,000 barrel-per-day refinery, which began operations last year after a decade of construction, has been facing challenges, including difficulties in sourcing crude oil from international producers.
NNPC, which has a supply deal with the refinery, has only delivered 6.9 million barrels of oil since last year, forcing the refinery to seek alternative sources from countries like Brazil and the US.
Dangote has expressed frustration with the obstacles his refinery is facing, stating that he is ready to let go of the project if it will benefit the country.
“Let them (NNPCL) buy me out and run the refinery the best way they can. They have labelled me a monopolist. That’s an incorrect and unfair allegation, but it’s OK. If they buy me out, at least, their so-called monopolist would be out of the way,” Dangote said…..Read More
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