Aliko Dangote, the richest person in Africa, has stated that he is willing to give Nigeria’s state-owned energy corporation, NNPC Limited, ownership of his $19 billion oil refinery.
This choice was made in the middle of growing disagreements with important equity partners and Nigerian regulatory bodies.
Dangote, in an exclusive interview with PREMIUM TIMES, stated, “Let them (NNPC) 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.”
PENGASSAN Reacts As Dangote Refinery Misses Production Deadline
Despite being hailed as a game-changer for Nigeria’s energy independence, the Dangote Refinery has encountered many difficulties since its establishment.
The refinery was initially intended to help the nation’s ongoing fuel shortages and save foreign exchange expenses, but difficulties obtaining crude oil have made it difficult for it to run at full capacity.
According to reports, the former ally NNPC has fallen well short of supplying the facility with the agreed-upon amount of petroleum.
“We have been facing fuel crisis since the 70s. This refinery can help in resolving 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, run the refinery,” added Dangote, highlighting his willingness to step aside for the greater good of Nigeria.
Nnamdi Kanu Says Dangote Is Nigeria’s Biggest Problem
Dangote is still dedicated to the refinery’s possible influence on Nigeria’s energy and economy in spite of these obstacles.
“Everything I do is in the interest of my country,” he affirmed, emphasizing the refinery’s potential to deliver high-quality products and generate employment opportunities.
The businessman’s possible decision to divest is indicative of larger worries about inconsistent policies and difficult regulations within Nigeria’s business community.
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