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Aliko Dangote, President of Dangote Group, has offered to sell the Dangote Refinery to the Nigerian National Petroleum Corporation Limited (NNPC).
This proposal comes amid rising concerns among Nigerians over the escalating conflict between Dangote Group and regulatory authorities within the oil and gas sector regarding the refinery's operations.
Dangote has accused local and foreign interests, which he called a "mafia," of repeatedly attempting to obstruct the refinery's completion.
Shortly after his allegations, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) claimed that the refinery produced substandard products compared to imported ones.
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Farouk Ahmed, CEO of NMDPRA, asserted that the refinery's diesel quality was 665 ppm, which he deemed inferior, suggesting that Nigeria should not heavily depend on the Dangote refinery for its fuel supply.
Ahmed also revealed that the refinery has not yet received a license to commence operations in the country.
These statements were made during a press briefing at the State House in Abuja on Thursday, where Ahmed also refuted claims that the regulatory body was attempting to hinder the refinery's operations due to a lack of crude oil supply from international oil companies (IOCs).
'Let NNPCL buy me out and run the refinery' - Aliko
In an exclusive interview with Premium Times yesterday, Africa's richest man stated, "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".
The 650,000 barrel-per-day Dangote refinery, commissioned last year at an estimated $19 billion, has demonstrated potential for reducing Nigeria's heavy dependence on imported refined petroleum products.
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This import reduction was projected to save the country about 30 percent of the total foreign exchange spent on imports.
"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. So I am ready to let go, let the NNPC buy me out, run the refinery," Aliko stated.