Dangote offers refinery to NNPC amid monopoly concerns
Africa’s wealthiest businessman, Aliko Dangote, has offered to sell his refinery to the Nigerian National Petroleum Corporation (NNPC) amidst allegations of monopolising the country’s petroleum sector.
This surprise move comes as the Nigerian government intensifies its efforts to increase state ownership and control over strategic national assets. The proposed sale has sparked intense debate about the future of Nigeria’s oil and gas industry, with some hailing it as a masterstroke and others criticizing it as a ploy to reinforce Dangote’s market dominance.
In an interview with Premium Times on Sunday, Dangote said, “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 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.”
According to the Premium Times report, Dangote also said the obstacles his refinery is facing seem to have vindicated friends and associates who advised him to tread with caution as he pumped billions of dollars into the Nigerian economy.
“Four years ago, one of my very wealthy friends began to invest his money abroad,” Dangote added.
“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.”
