In a significant development, Aliko Dangote, Chief Executive Officer of Dangote Refinery, has revealed that the Nigerian National Petroleum Corporation (NNPC) no longer holds a 20% stake in the refinery.
This disclosure was made during a press briefing in Lagos State on Sunday.
Aliko Dangote, the richest man in Africa and Chief Executive Officer of Dangote Refinery, has announced that the Nigerian National Petroleum Corporation (NNPC) no longer owns a 20% stake in the refinery.
This revelation came during a press briefing in Lagos State on Sunday. Dangote explained, “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 their obligations. Now, they only own a 7.2% stake in the refinery.”
This significant reduction in NNPC’s stake comes after the corporation failed to meet its payment obligations, marking a notable shift in the ownership structure of the Dangote Refinery.
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