Lagos, July 22, 2024 – Aliko Dangote, the Chief Executive of Dangote Refinery, says he is willing to sell his oil refinery to the Nigerian National Petroleum Company (NNPC) Limited.
Dangote said this in Lagos on Sunday in reference to myraid issues he t has had with the Nigeria National Petroleum Corporation Limited since his refinery took off.
The first issue was the problem of accessing crude feedstock from international oil companies (IOCs) in Nigeria, which forced the Dangote company to import crude from countries like Brazil and the US to bridge the meet supply.
Another issue is the high level of the Sulphur content of diesel produced by the refinery from which the NNPCL has adjudged the quality of Dangote’s diesel as inferior.
Also, there is the allegation that the refinery enjoys a sort of monopoly which has given it some undue advantages.
Aliko spoke with Premium Times on Sunday.
He said: “Let them (NNPCL) buy me out and run the refinery the best way they can. They have labelled me a monopolist,” Dangote said.
“That’s an incorrect and unfair allegation, but it’s okay. If they buy me out, at least, their so-called monopolist would be out of the way.
“We have been facing fuel crisis since the 70s. This refinery can help in resolving the problem, but it does appear some people are uncomfortable that I am in the picture.
“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.
“So, I am ready to let go, let the NNPC buy me out, run the refinery. At least the country will have high-quality products and create jobs.”
Dangote also said the obstacles his refinery is facing seem to have vindicated friends and associates who had advised him to tread cautiously as he pumped billions of dollars into the Nigerian economy.
He said: “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 shenanigans of interest groups.
“That friend has been taunting me in the past few days, saying he warned me and that he has been proven right.” (GBN)
