Aliko Dangote, Chairman of Dangote Group, has made a surprising offer to sell the Dangote Refinery, valued at $20 billion, to the Nigerian National Petroleum Company Limited (NNPCL).
In an interview with Premium Times yesterday, Dangote expressed his willingness to let go of the refinery, citing concerns about being branded a monopolist.
Dangote stated, “This refinery can help resolve the problem, but it does appear some people are uncomfortable that I am in the picture.
So I am ready to let go, let the NNPC buy me out, and run the refinery. At least the country will have high-quality products and create jobs.”
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This offer comes after Engr. Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, raised concerns about the refinery’s products being of inferior quality.
Ahmed also expressed worries about the potential risks of allowing the refinery to become a monopoly, particularly for Automotive Gas Oil and Dual Purpose Kerosene (DPK).
Dangote has requested an independent test to address Ahmed’s claims about the refinery producing substandard products.
The billionaire business mogul emphasized that his efforts are focused on tackling Nigeria’s fuel importation issues, and he is willing to step aside to ensure the country benefits from the refinery.
As the situation unfolds, it remains to be seen whether NNPCL will accept Dangote’s offer and take ownership of the refinery.
The move could have significant implications for Nigeria’s petroleum industry and the country’s economy as a whole.
