The Chairman of the Dangote Group, Aliko Dangote, has criticized the Nigerian government for allowing the importation of dirty fuel into Nigeria. Dangote said the importation of dirty fuel undermines the quality and price stability of fuel in the country......See Full Story>>.....See Full Story>>
Dangote raises dust on NNPC personnel
The Nigerian billionaire accused some NNPC personnel and oil traders of owning blending plants in Malta, where they allegedly import inferior products with fake import certificates,
Dangote’s comments have sparked debates among Nigerians, with some supporting his stance and others criticizing his alleged monopolistic tendencies.
According to reports, the Nigerian government has met with Dangote and other key stakeholders to address and resolve the ongoing row surrounding the Dangote Refinery.
NMDPRA accuses Dangote of inferior products
Recall that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said that fuels from the Dangote and other refineries in Nigeria are of inferior quality.
The NMDPRA said that Dangote diesel has high sulphur content, which is a statement that Dangote Refinery management denied.
Reports say the agency also disclosed that the refinery operates without a license for 650,000 barrels per day and is still at its pre-commissioning stage.
However, Dangote Refinery said the statement by the NMDPRA’s chief executive officer, Farouk Ahmed, contains falsehoods and is meant to tarnish the company’s image.
Dangote challenges NNPC to buy him out
On Sunday, July 21, 2024, Dangote called out the Nigeria National Petroleum Company Limited (NNPC) and asked the national oil company to buy him out of his $20 billion refinery and run it if they could.
Most Nigerians have rallied behind the billionaire, leading to the Nigerian government calling for a truce between him and the government agencies.
Energy policy analyst and leader of Platforms Africa, Adeola Yusuf, said the ongoing row between Dangote and regulatory agencies will send a wrong signal to investors,
He disclosed that the billionaire is fighting against entrenched entities and oil cartels who have held the Nigerian economy to ransom for decades.
“We are seeing now that all these entities which have held the country on the jugular are fighting hard to prevent the Dangote Refinery from coming into fruition.
“They know the Refinery can end petrol import in Nigeria, hence their fight against Dangote.”
Dangote Offers to Sell Refinery
Legit earlier reported that Aliko Dangote has said he is ready to relinquish ownership of the world’s biggest refinery to the Nigeria National Petroleum Company Limited (NNPC).
The Nigerian billionaire spoke amid a new dispute over the sulphur content of petroleum products produced from the refinery and a reported misunderstanding with NNPC, one of the refinery’s key equity partners, and the Nigeria Midstream Downstream Regulatory Authority (NMDPRA).
The refinery, which was commissioned by former President Muhammadu Buhari, is estimated to have cost about $20 billion.