Aliko Dangote has clarified that the Nigerian National Petroleum Company (NNPC) now holds a 7.2% stake in the Dangote Refinery, a reduction from the previously reported 20%.
This change is due to the NNPC’s failure to pay the remaining balance of their share, which was due last month in June.
Dangote stated that while the NNPC had promised to provide the funds, it has been unable to meet its obligations, thereby reducing its stake in the $19 billion refinery to 7.2%.
(Business Day)