Aliko Dangote, Chairman of Dangote Groups has said he is ready to sell the $20 billion Dangote Refinery to the Nigerian National Petroleum Corporation (NNPC) Limited.
The Africa’s richest man disclosed this in an interview with Premium Times on Sunday, July 21, 2024.
“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.”
Dangote’s reaction came after, the Chief Executive Officer of NMDPRA Farouk Ahmed in an interview stated that Dangote was trying to entrench monopoly in the oil and gas sector, that the products are inferior and that the 650,000-bpd refinery is still in the pre-commissioning stage and about 45 per cent completed.
Ahmed added that the country cannot risk dependence on Dangote Refinery alone by suspending petroleum products, especially Automotive Gas Oil and Dual-Purpose Kerosene, DPK.
He said: “That is not so. Dangote Refinery is still in the pre-commissioning stage. It has not been licensed yet. We haven’t licensed them yet. I think they are about 45 per cent to completion.
“We cannot rely on one refinery to feed the nation, because Dangote is requesting that we suspend or stop imports, especially of AGO and DPK, and direct all marketers to his refinery. That is not good for the nation in terms of energy security, and it is not good for the market because of the monopoly.”