Connect with us

Dangote Announces Reduction of NNPC's Stake in Dangote Refinery

Piroll

Published

on

Follow
NAIJA NEWS: Dangote Announces Reduction of NNPC's Stake in Dangote Refinery [New Naija News] » Naijacrawl
Photo: Naijacrawl

Aliko Dangote, CEO of Dangote Refinery, has announced that the Nigerian National Petroleum Corporation (NNPC) Limited no longer holds a 20% stake in the refinery.



During a press briefing at the refinery on Sunday, Dangote revealed that NNPC now owns only 7.2% of the refinery due to its failure to pay the remaining balance of its share, which was due in June.


Dangote explained that although NNPC had promised to provide the necessary funds, it has been unable to fulfil its financial obligations. Consequently, NNPC's stake in the $19 billion refinery has been reduced to 7.2%.


"NNPC no longer owns a 20% stake in the Dangote refinery. They were supposed to pay their balance in June, but they have yet to meet their obligations. Now, they only own a 7.2% stake in the refinery," Dangote stated.

Click Here To Comment




Piroll
 

Piroll is a creative writer, social-political commentator, socio-researcher, and sports analyst. He holds certificates in media management and data journalism from the Thomas Foundation Institute of Journalism. He works as a... Read More

Continue Reading
Click to comment

Be first to comment


Leave a Reply

Your email address will not be published. Required fields are marked *

Naija News

Dangote Refinery Will Unsettled European Market - OPEC

Piroll

Published

on

NAIJA NEWS: Dangote Refinery Will Unsettled European Market - OPEC [New Naija News] » Naijacrawl
Photo: Naijacrawl
The Organisation of Petroleum Exporting Countries (OPEC) has said supplies from Nigeria-based world’s largest single-train Dangote Refinery and Petrochemicals will put pressure on the performance of Europe’s oil industry, especially the Northwest Europe (NWE) Gasoil.OPEC in its newly released monthly Oil Market Report for June 2024 listed Dangote Refinery among the top Diesel and jet Fuel suppliers that will disrupt Europe’s oil & gas Industry, a development experts...
Continue Reading

Naija News

Dangote Reveals Next Plan After Refinery

Piroll

Published

on

NAIJA NEWS: Dangote Reveals Next Plan After Refinery [New Naija News] » Naijacrawl
Photo: Naijacrawl
The Africa’s richest man, Alhaji Aliko Dangote has revealed plans to delve into steel production shortly stating that he wants to ensure that every steel used in West Africa comes from Nigeria.The industrial mogul stated this during an interview at the Afreximbank Afro-Caribbean Trade & Investment Forum in Nassau, The Bahamas.When asked if he is taking a break after the refinery, he noted that the next venture after the refinery project would be in Steel manufacturi...
Continue Reading

Naija News

Check the Key Players Partnering with Dangote Oil Refinery for Product Distribution

Piroll

Published

on

NAIJA NEWS: Check the Key Players Partnering with Dangote Oil Refinery for Product Distribution [New Naija News] » Naijacrawl
Photo: Naijacrawl
Dangote Oil Refinery, with its impressive 650,000 barrels per day (bpd) capacity, has attracted major oil marketers for the lifting and distribution of its refined products. These key industry players are set to play a crucial role in ensuring the efficient supply chain of products from the state-of-the-art refinery. Let's take a closer look at the major oil marketers that have enrolled in this collaborative effort:1. 11 Plc.2. Conoil Plc.3. Ardova Plc.4. MRS Oil Ni...
Continue Reading

Latest


Download Naijacrawl App today

Fastest way to read on the go

Download the Naijacrawl App.