Economy

Breaking: NNPC No Longer Owns 20% Stake In The Dangote Refinery

July 14, 2024

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

This was announced on Sunday by the Chief Executive Officer (CEO) of Dangote Refinery, Aliko Dangote during a press briefing at the refinery on Sunday.

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.

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

More details later….

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Breaking: NNPC No Longer Owns 20% Stake In The Dangote Refinery

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