The richest man in Africa, Aliko Dangote has
offered to sell out his multi billion dollar worth Oil company to NNPC Limited, Nigeria's state-owned energy company, amid unresolved differences with the federal government.
The 650,000 barrel-per-day refinery, which began operations last year after a decade of construction, has been facing challenges, including difficulties in sourcing crude oil from International producers.
NNPC which has a supply deal with the refinery, has only delivered 6.9 million barrels of oil since last year, forcing the refinery to seek alternative sources from countries like US, and Brazil.
Dangote has expressed frustration with the obstacles his refinery is facing , stating that he is ready to let go off the project if it will benefit the country.
"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, their so called monopolist will be out of the way", Dangote said in a recent interview.
The interview was granted on Sunday to Premium Times
Dangote who has long dominated Nigeria's salt, cement, and sugar industries, decided and ventures into Oil and gas, a move that has proven challenging.
The rinfery cost $19 billion to build, more than double the initial estimate. It promises to reduce Nigeria's reliance on imported fuel and save up to 30% of the foreign exchange spent on imports.
It is understood that the refinery, set to release it's first batch of petrol by August, it's actually having a low performance compared to the actual capability of the company, due to shortage in supply of Oil, and difficulties to get supply of crude oil from international producer.
The billionaire businessman also acclaimed that he is 67years old, and that is 3years to 70, and that he need little to live the rest of his life, as he wouldn't be carrying anything to his grave, and that anything he does is for the betterment of the country.
Chai sorry o
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