Dangote refinery announce decrease in NNPC’s stake

Aliko Dangote announced that the Nigerian National Petroleum Company Limited (NNPCL) stake in his refinery will be reduced.

He announced that it has decreased from 20 percent to 7.2 percent.

He made the an announcement during a press briefing at the refinery on Sunday.

According to him, NNPC failed to pay the remaining balance for their share, which was due in June.

“NNPC no longer holds a 20 percent stake in the Dangote refinery. Their payment deadline was in June, but they have not fulfilled their financial obligations. As a result, their stake is now 7.2 percent,” Dangote stated.