The Assets Management Corporation of Nigeria (AMCON) breaks silence on alleged plans to take over Dangote Refinery.

Brand Spur Nigeria reports that some online news platforms had on Tuesday reported that Africa’s richest man, Aliko Dangote, could forfeit the Dangote Refinery over a $7 billion debt burden owed to commercial banks in the country with a possible takeover by AMCON.

AMCON, however, denied such plans. It said neither Dangote Refinery nor the Dangote Group are on its debtors’ list, hence it couldn’t have the plan to take over the assets.

AMCON Breaks Silence On Plans To Take Over Dangote Refinery
Head of Corporate Communications at AMCON, Jude Nwauzor, said since the Dangote Group is not on its debtors’ list, the rumour that it was planning to take over the assets of Dangote Refineries is false.

Multiple sources in the Dangote Group also said the report was “false and malicious”, as the group has the capacity to service and pay its debt.

AMCON had in 2010 purchased 12,743 bad loans worth N3.8 trillion from 22 Eligible Financial Institutions (EFIs) for a purchase price of N1.8 trillion.

According to AMCON, Dangote Refineries was not part of the bad debts that it took over and there was no way it would be taking over the assets of the company now.

The Federal Executive Council (FEC) had recently approved the acquisition of a 20 per cent minority stake by the Nigerian National Petroleum Corporation (NNPC) in the Dangote Petroleum and Petrochemical Refinery.

Dangote Oil Refinery is a 650,000-barrel per day (BPD) integrated refinery project under construction in the Lekki Free Zone of Lagos.


SOURCE:https://brandspurng.com/2021/08/11/amcon-to-take-over-dangote-refinery/

Some people will still come here to tell us they now believe the story since AMCON has rushed to deny it.

Anyway, Sowore should really slow down with the fake news. Buhari will not be president beyond 2023 but the damage those hating on him would have done to the country will be with us far beyond 2023. We should all be guided.

AMCON is replying rubbish after some remote control from Abuja.

Dangote Refinery is definitely in debt.

The volume of debt might be contentious but the establishment is in a mess.

I still want the refinery to succeed regardless.

Dangote refinery must work IJN

.

It reminds me how Awode peterside one of the failures whose poor privatisation of PHCN has inflicted a demonic arrangement where darkness is more profitable to sell than light, came out to say only Dangote was given permission to export goods during the land border shutdown despite knowing other companies have been give the same concession. I concluded the idiot if he was a little poorer is capable of burning Dangote's investment out of sheer malice and envy.

Southern elites application of bigotry will eventually consume them. Adeyanju a slowpoke accused murder of PDP fame said a Binta should not judge Cownu because she is Fulani and he got little push back from southern elites as usual once again. This sort of bigotry can easily be repaid back by demented like-evil-minded individual from the north especially how PDP seem to enjoy playing their form of politics.

Ok

Okay, we keep our fingers crossed.
..but I wonder why some Nigerians wish for the downfall of this man.

seunmsg:
Some people will still come here to tell us they now believe the story since AMCON has rushed to deny it.

Anyway, Sowore should really slow down with the fake news. Buhari will not be president beyond 2023 but the damage those hating on him would have done to the country will be with us far beyond 2023. We should all be guided.

Lol, when it suits some people they write normal but when it's on the contrary they exhibit bile.