Dangote: NNPC Ltd No Longer Owns 20% Of Dangote Refinery

The Nigerian National Petroleum Corporation Limited (NNPC Ltd) on Sunday announced it no longer owns a 20% stake in Dangote Refinery.

This announcement was made at a press conference held by the Chief Executive Officer (CEO) of Dangote Refinery, Aliko Dangote.

According to him, the NNPCL only owns 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.

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“NNPC no longer owns a 20% stake in the Dangote refinery. They were met to pay their balance in June, but have yet to fulfil the obligations. Now, they only own a 7.2% stake in the refinery,” Dangote said.

Details later…