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Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC - Politics - Nairaland

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Aliko Dangote Offers To Sell 650,000 Bpd Oil Refinery To NNPC / Amosun Replies Abiodun Over Relocation Of Dangote Refinery To Lagos / Amosun To Blame For Dangote Relocating Refinery To Lagos — Dapo Abiodun (2) (3) (4)

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Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Afonjah: 9:29pm On Jul 21
Africa’s richest man, Aliko Dangote, is willing to sell his multi-billion-dollar oil refinery to NNPC Limited, Nigeria’s state-owned energy company, amid unresolved differences with the federal government.

The 650,000 barrel-per-day refinery, which began operations last year after a decade of construction, has been facing challenges, including difficulties in sourcing crude oil from international producers.

NNPC, which has a supply deal with the refinery, has only delivered 6.9 million barrels of oil since last year, forcing the refinery to seek alternative sources from countries like Brazil and the US.

Dangote has expressed frustration with the obstacles his refinery is facing, stating that he is ready to let go of the project if it will benefit the country.

“Let them (NNPCL) 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,” Dangote said in a recent interview.

The interview was granted on Sunday to Premium Times.

Dangote, who has long dominated Nigeria’s cement, salt, and sugar industries, ventured into oil and gas, a move that has proven challenging.

The refinery cost $19 billion to build, more than double the initial estimate. It promises to reduce Nigeria’s reliance on imported fuel and save up to 30% of the foreign exchange spent on imports.

It is understood that the refinery, set to release its first batch of petrol to the Nigerian market in August, has been operating at just over half its capacity due to difficulties in sourcing crude oil from international producers.

“As you probably know, I am 67 years old. In less than three years, I will be 70. I need very little to live the rest of my life. I can’t take the refinery or any other property or asset to my grave. Everything I do is in the interest of my country,” Dangote said.

“This refinery can help resolve the problem, but it seems some people are uncomfortable with me in the picture. So I am ready to let go, let the NNPC buy me out and run the refinery. At least the country will have high-quality products and create jobs,” he added.

Dangote’s decision comes after facing several obstacles, which he believes validate the caution advised by friends and associates when he invested billions into Nigeria’s economy.


“Four years ago, one of my very wealthy friends began to invest his money abroad. I disagreed with him and urged him to rethink his action in the interest of his country. He blamed his action on policy inconsistencies and interest groups. That friend has been taunting me in the past few days, saying he warned me and that he has been proven right,” Dangote said.

Devakumar Edwin, Vice President of Oil and Gas at Dangote Group, recently alleged that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is permitting the importation of substandard fuel into the country. In response, NMDPRA’s CEO, Farouk Ahmed, countered that diesel produced by Dangote’s refinery and other similar facilities, such as Waltersmith and Aradel, contains high levels of sulfur, potentially damaging vehicle engines and the environment.

However, during a recent tour of the Dangote Petroleum Refinery and Dangote Fertiliser Limited complex by members of the House of Representatives, Aliko Dangote disputed the regulator’s claims. Lab tests conducted during the tour revealed that Dangote’s diesel contains a mere 87.6 ppm of sulfur, significantly lower than the 1800 ppm and 2000 ppm found in imported samples. Dangote challenged the regulator to conduct an impartial comparison of the quality of his refinery’s products versus imported ones, advocating for a fair assessment to determine the best interests of Nigeria.

Also during the tour, Dangote announced that he would halt his investment in Nigeria’s steel industry to avoid accusations of monopoly.

Politics Nigeria

35 Likes 4 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Paraman: 9:31pm On Jul 21
Ahmed Farouq didn't talk like a government official... The wyere don make Dangote vex grin

134 Likes 10 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Okwyjesus(m): 9:32pm On Jul 21
Funny country

17 Likes 4 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Lavor234: 9:32pm On Jul 21
🤣🤣😹😹

2 Likes

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Justnation: 9:35pm On Jul 21
This is a sad development,
Nigeria we hail thee

33 Likes 8 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by lordm(m): 9:36pm On Jul 21
Imagine frustrating an investor like Dangote, how will foreign investors think of coming here. No wonder foreign companies are running way.

330 Likes 32 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by nairavsdollars(f): 9:38pm On Jul 21
I pity the man. Emilokan really dealing with him

47 Likes 5 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Zxcvbnmghtr: 9:40pm On Jul 21
shocked

74 Likes 1 Share

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by decatalyst(m): 9:41pm On Jul 21
This country ehn...


I never see or hear this man talk plenty like this before. 😁


Una Don frustrate his life😪😪

274 Likes 8 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by dododawa1: 9:42pm On Jul 21
Fake News





We knows d fake News propaganda carryer



Na them

5 Likes 8 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by SangoOlukosoOba(m): 9:43pm On Jul 21
lordm:
Imagine frustrating an investor like Dangote, how will foreign investors think of coming here. No wonder foreign companies are running way.

You nailed it!

Why I always tell people in the diaspora never to think of Nigeria when they have thought of investing back home. We have so many countries in Africa if they adamant to invest in Africa.

Nigeria will frustrate your soul, family, business, spirit and afterlife. Dangote would have been better off if he invested in Ghana, Niger or Cameroun, and ship products to Nigeria.

If a multi billionaire can be frustrated these way, imagine what the little ones trying to invest a million dollars back home will face😀😀😀😀

239 Likes 10 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Bigboytinz: 9:43pm On Jul 21
.
Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by John505050(m): 9:43pm On Jul 21
Ok
Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by princepeter566: 9:48pm On Jul 21
Dangote want to collect food from nnpc mouth.
Nnpc is fighting back.
All I see is corruption fighting corruption.
All are fighting for their pockets.
But dangote should remember. Buhari is no longer on seat.
When military take over, all our these assets will be returned back.
Cement factories, nepa and d rest will be returned back

53 Likes 1 Share

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by sIfioksq: 9:49pm On Jul 21
This is a fantastic development for the FG! Partnering with Dangote could significantly boost our refining capacity and enhance local production. It’s a step towards self-sufficiency in oil.

5 Likes

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Freshtruth(m): 9:51pm On Jul 21
The man wise gan he dey target.that NNPC refinery gan gan he has already had an agreement with Atiku back then in 2019 to purchase NNPC, when Atiku dey say he wan privatize NNPC una think say na for Nigerians good? grin na agreement he done get with Atiku and Dangonte na he is about to use the disguise of selling is refinery to the NNPC to purchase NNPC secretly

6 Likes 3 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by lordm(m): 9:52pm On Jul 21
SangoOlukosoOba:


You nailed it!

Why I always tell people in the diaspora never to think of Nigeria when they have thought of investing back home. We have so many countries in Africa if they adamant to invest in Africa.

Nigeria will frustrate your soul, family, business, spirit and afterlife. Dangote would have been better off if he invested in Ghana, Niger or Cameroun, and ship products to Nigeria.

If a multi billionaire can be frustrated these way, imagine what the little ones trying to invest a million dollars back home will face😀😀😀😀
my people say if a crocodile can eat its children, imagine what it will do to the flesh of a frog. The only working refinery in Nigeria wants to be frustrated so they can continue importing petroleum products that will not help our economy. Tinubu is failing. He should forget about second tenure o, because no one will vote for him.

98 Likes 3 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by CrossRhodes: 10:15pm On Jul 21
Zxcvbnmghtr:
Why does Nigeria like frustrating IGBOS?! You can imagine. I just don't know why. Every time IGBOS are trying to build this country, they are always frustrated.
undecided

Unless Dangote chooses to be as brave as Tinubu, he won't be SUCCESSFUL with his refinery. What kind of frustration did Tinubu not face before becoming President?! This one think say e go easy? Abi no be American be the 20 year old boy wey use bullet tear Donald Trump right ear for America?!
You are very retardedd useless thing.
Keep the igbos out of your mouth or perish with high blood pressure.

97 Likes 13 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by CrossRhodes: 10:16pm On Jul 21
lordm:
my people say if a crocodile can eat its children, imagine what it will do to the flesh of a frog. The only working refinery in Nigeria wants to be frustrated so they can continue importing petroleum products that will not help our economy. Tinubu is failing. He should forget about second tenure o, because no one will vote for him.
The zombies on nairaland will vote him oo.
Don't underestimate their foolishness and sufferhead

79 Likes 4 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Zxcvbnmghtr: 10:16pm On Jul 21
CrossRhodes:

You are very retardedd useless thing.
Keep the igbos out of your mouth or perish with high blood pressure.

You can now see how narrow minded you mostly are.

39 Likes 1 Share

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Chinkoalhaji34: 10:18pm On Jul 21
That's a good news if it comes to fruition

3 Likes

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Forumites: 10:18pm On Jul 21
Dangote should stop lobbying the government and allow other competitive investors to enlarge the economy, no matter they region they’re from.

2 Likes

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by stainzvill(m): 10:28pm On Jul 21
How much? I go buy am

1 Like

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Ebubu2: 10:42pm On Jul 21
decatalyst:
This country ehn...


I never see or hear this man talk plenty like this before. 😁


Una Don frustrate his life😪😪
I am 28 years old but this is first time in last 28 years this man has spoken soo much words within one week, and all are lamentations.

67 Likes 5 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by yarimo(m): 10:44pm On Jul 21
Obasanjo once said, no refinery will work in Nigeria because of cabal that are in oil sector. With what is happening to dangote refinery. Obasanjo is actually correct

41 Likes 5 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Papilagreen: 11:08pm On Jul 21
If we are to look this issue from multiple sides of view, we now have cars that run on water and solar energy in one. We now have flying cars, we now have electric cars that doesn't need fuel but rather lithium batteries and water together and it drives well just as regular gas cars and the maintenance structure is same as fuel cars. Even the Saudis are now shifting from oil petroleum as well. And I think dangote has sat down to do the all analysis to see it's not worth the fight and as such he is very willing to sell his refinery when different stock holders have different agendas. Great decision he has chosen.

2 Likes 2 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by SmartPolician: 11:12pm On Jul 21
lordm:
Imagine frustrating an investor like Dangote, how will foreign investors think of coming here. No wonder foreign companies are running way.

There's something sinister happening that we don't see. These men only tell us what they want us to know. I strongly advise we watch as the drama unfolds.

25 Likes 1 Share

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Salvador1: 11:17pm On Jul 21
Tinubu is creating problem to himself. I hope he can contain north excesses in 2027.
He's stepping on too many toes.

8 Likes 1 Share

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by potent5(m): 11:23pm On Jul 21
Tinubu is playing a game only he understands. Let's hope that the Nigerian economy does not pay the price for it.

1 Like

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Ibrahimmrfish(m): 11:44pm On Jul 21
If this is allow to happen, seriously who will be stupid enough to invest in Nigeria again.

13 Likes 2 Shares

Re: Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC by Racoon(m): 11:48pm On Jul 21
The man has been part of the rot of the Nigerian state. Now even his entrepreneural expertise is not helping him anymore despite benefitting hugely from the corruption thereof.

Now, why would a highly noised Dangote Refinery be sold to the corrupt Nigerian government under Tinubu when the NNPC denied investing in same. Another massive corruption scandal is brewing up. No sane foreign investors will think Nigeria.This country is sickeningly nauseating.

25 Likes 1 Share

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