By Our Reporter
The Chief Executive Officer of Dangote Refinery, Aliko Dangote, said that the Nigerian National Petroleum Company, NNPCL, now only has 7.2% share in the Dangote Refinery as against the 20% stake the corporation earlier held.
Addressing Newsmen at the refinery on Sunday in Lagos, Dangote disclosed that NNPC had failed to fulfil its financial obligation, having failed to pay up their balance in June.
Dangote said: “NNPC no longer owns a 20% stake in the Dangote refinery. They were met to pay their balance in June but have yet to fulfill the obligations. Now, they only own a 7.2% stake in the refinery.”
On its part, the NNPCL has reportedly said that its period assessment of investment portfolio has led to the decline in its share of the Dangote refinery.