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The Richest Business Man Aliko Fangote Offers The Refinary For Sale To NNPC

The richest man in Africa and president of the Dangote Group, Aliko Dangote, offered to sell the Nigerian National Petroleum Corporation Limited (NNPCL) the Dangote Refinery.

the allegations of monopoly in the industry, as he made known in an exclusive interview with Premium Times on Sunday, yesterday. He pointed out that if NNPCL would have to take over the refinery, the allegations of monopoly would amount to nothing.

In an exclusive interview with Premium Times on Sunday, yesterday, Aliko Dangote disclosed that he was considering selling the refinery due to accusations of industry domination. He made the point that the accusations of monopoly would be moot if NNPCL were to take over the refinery.

In response to Farouk Ahmed, the CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, claiming that the Dangote refinery had requested that the regulator cease granting import licenses to other marketers in order to maintain its position as the sole fuel supplier in Nigeria, Dangote made the offer.

 Farouk Ahmed had said, "Dangote is asking that we suspend or stop importation of all petroleum products, especially AGO, and direct all marketers to the refinery; that is not good for the nation in terms of energy security. We cannot rely heavily on one refinery to feed the nation." And because of monopolies, that is bad for the market."

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