Aliko Dangote, Africa’s richest man and owner of the Dangote Refinery, has fired back at critics alleging a monopoly in the Nigerian oil refining sector and willingness to sell his multibillion-dollar oil refinery to the state-owned energy company, Nigerian National Petroleum Company (NNPC) Limited.
Dangote, who spoke in an interview with Premium Times on Sunday, said he is considering selling the 650,000 barrel-per-day refinery to the national oil company, NNPC, as he is now being labelled a monopolist.
Read also: Dangote blames NNPC’s forward oil sales for refinery’s lack of crude
Dangote mentioned his willingness to transfer ownership of his multibillion-dollar oil refinery to the state-owned NNPC Limited. He said the new dispute with a key equity partner in the oil and gas industry, particularly the regulatory authorities, is part of an attempt to frustrate the refinery from coming into operation.
Read also: Nigeria’s risk profile seen rising on Dangote-NMDPRA dispute
Dangote states that despite Nigeria’s long-standing fuel crisis and the $19 billion refinery’s potential to resolve it, there are vested interests unhappy with the project who are willing to undermine its success. He urged the state-owned oil company to buy him out, suggesting that this might dispel accusations of him being a monopoly.
“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 told PREMIUM TIMES in an exclusive interview.
The refinery, set for its first roll-out of petrol in August, has been operating at just above half capacity due to difficulties in sourcing crude oil from international producers.
