NNPCL, however, added that the decision not to invest any further in the Dangote refinery did not impact it’s business
By Kehinde Okeowo
The Nigerian National Petroleum Company Limited (NNPCL) has confirmed it has only 7.2 per cent stake in the 650,000 barrels per day Dangote Refinery.
This was revealed by the company’s spokesperson, Olufemi Soneye in a terse statement, while reacting to Dangote Refinery’s claim that NNPCL’s stake is just 7.2 per cent.
The Chairman of Dangote Group, Aliko Dangote, had earlier revealed that NNPCL’s stake in the Dangote Refinery is now 7.2 per cent due to the company’s failure to pay the balance of its shares, which was due in June.
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However, the position is contrary to the widely announced claim by the Group Chief Executive Officer of NNPCL, Mele Kyari, that his bought 20 per cent in Dangote Refinery.
Clarifying the contradictions, Soneye said NNPCL several months ago decided to cap its investment at the amount already paid.
He went on to add that the decision not to invest any further in the Dangote refinery did not impact the company’s business negatively.
“Several months ago, we made a commercial decision to cap our investment at the amount already paid.
“This decision was taken by NNPC Ltd and has no impact on our business,” Soneye said.
