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| Aliko Dangote |
Aliko Dangote, the President of Dangote Group, has offered to sell his Dangote Refinery to the Nigerian National Petroleum Corporation Limited (NNPCL). In an interview with Premium Times, Dangote said he is willing to sell the refinery to address accusations of monopolistic practices in the industry.
He stated that if NNPCL takes over the refinery, the monopoly allegations against him would become irrelevant. Dangote emphasized that these accusations are baseless and unfair, but he is open to selling the refinery to put an end to the criticism.
He explained, "If NNPCL buys me out, they can run the refinery as they see fit. The so-called monopolist would be out of the picture. We've had fuel crises since the 70s, and this refinery can help solve that. However, some people seem uncomfortable with my involvement, so I'm ready to step aside and let NNPC buy me out and manage the refinery."
This offer follows comments from Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, who claimed that the Dangote Refinery had asked regulators to stop issuing import licenses to other fuel marketers, which would make it the sole supplier in Nigeria. Ahmed argued that relying on one refinery would be detrimental to the nation’s energy security and market competition.
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