Dangote Rejects NNPC Stake Increase
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President of the Dangote Group, Aliko Dangote, has revealed that his company turned down attempts by the Nigerian National Petroleum Company Limited to increase its ownership in the Dangote Petroleum Refinery.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
He said the decision was taken because the refinery plans to open its shares to more Nigerians in the future.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
Dangote disclosed this during an interview with the head of the Norwegian Sovereign Wealth Fund, where he also spoke about the refinery’s growing output and rising exports.
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He stated that the facility now processes more than its official 650,000 barrels-per-day capacity and continues to reduce Nigeria’s dependence on imported petrol.
Data from the downstream petroleum regulator showed that local refineries supplied over three billion litres of petrol in the first quarter of 2026, while fuel imports dropped sharply during the same period.
Industry records indicate that the Dangote refinery remains the country’s main supplier of locally refined petrol.
The billionaire businessman also spoke about challenges facing his businesses, including unstable government policies, while noting that global tensions in the oil market have increased demand for products from his refinery and fertiliser plants.
He added that the company plans to expand further and attract more investors before 2030.
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