₦airaland Forum

The Chief Executive Officer (CEO) of Dangote Refinery, Aliko Dangote, has revealed that the Nigerian National Petroleum Corporation (NNPC) Limited no longer owns a 20% stake in Dangote Refinery.

Dangote disclosed this during a press briefing at the refinery on Sunday.

The business mogul revealed that the Nigerian oil company now owns only 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.

He stated that while the NNPC had promised to provide the funds, it has been unable to meet its obligations, thus reducing its stake in the $19 billion refinery to 7.2%.

“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.

Zwooks:
Yet you used the country to obtain tedious and frivolous loans to build your refinery. You used the government to purchase dollars at throw away prices and used the northern cabal power to obtain sole importation fuel import license should there be a break down in your production. Unless Dangote is out of the picture, Nigeria will continue to remain impoverished. Thief

DevilsEqual:
I don't get u
I thought u guys claim u have business sense

So cause he "obtained frivolous bla bla bla...", he should still leave more stakes than they paid for to them?


Na so una dey run Business for Nkalagu??

JAMO84:
Oga stop talking, start rolling out trucks of pms and crash the price

OriOko88:

Dangote is a real Mafia boss. He used nnpc as a collateral to secure huge loans,and MuMu nnpc failed to read the full script. I guess the guy has almost paid off the debt for his refinery and he's now reneging his deal with nnpc. Wat a smart nigga smart scammer.

Zwooks:
Yet you used the country to obtain tedious and frivolous loans to build your refinery. You used the government to purchase dollars at throw away prices and used the northern cabal power to obtain sole importation fuel import license should there be a break down in your production. Unless Dangote is out of the picture, Nigeria will continue to remain impoverished. Thief

ElSudani:
Baseless and hateful comment.

Zwooks:
First do the research na

ElSudani:
You can help us by posting a link here.

DevilsEqual:
I don't get u
I thought u guys claim u have business sense

So cause he "obtained frivolous bla bla bla...", he should still leave more stakes than they paid for to them?


Na so una dey run Business for Nkalagu??

Zwooks:
Never debate what you are ignorant about. You can see how you are ready to die for what you know nothing about. Please shift

ElSudani:
Put a link here. If you can't, a screenshot would do and if you can't provide any evidence then I can safely say you are not only lying, you absolutely don't know what you are talking about.

Zwooks:
Ignorant pompous Nigerians. Look at how shameless you are arguing against someone who knows better than you. First get yourself educated and don't put that on me. Dufos

Zwooks:
First do the research na

OriOko88:

Dangote is a real Mafia boss. He used nnpc as a collateral to secure huge loans,and MuMu nnpc failed to read the full script. I guess the guy has almost paid off the debt for his refinery and he's now reneging his deal with nnpc. Wat a smart nigga