By Eric Elezuo
President, Dangote Industries Limited and Africa’s richest man, Aliko Dangote, has said that contrary to popularly held view that the Nigerian National Petroleum Company Limited (NNPCL) invested 20 percent stake in Dangote Refinery and Petrochemicals, the company has only 7.2 per cent share holding.
Dangote made the revelation while addressing a full house of top media executives during a press parley and tour of the facilities at the Ibeju-Lekki site of the refinery and fertilizer plant.
Speaking matter of factly, Dangote, who said that the success of the refinery will depend majorly on the line of the policies the government of the day take, noted that while NNPC was originally billed to acquire 20 per cent share holding, it could only afford to pay 7.2 percent, which it now owns, having failed to remit the balance, which was due in June.
“NNPC do not own 20 percent stake in the Dangote refinery. They were meant to pay their balance in June, but have yet to fulfil the obligations. Now, they only own a 7.2% stake in the refinery,” Dangote confirmed.
