Aliko Dangote, Africa’s richest man, has made headlines by offering to sell his massive oil refinery, which has the capacity to process 650,000 barrels of crude oil per day, to the Nigerian National Petroleum Company (NNPC).
This move comes in the wake of Nigeria’s persistent fuel crisis, which has plagued the country since the 1970s.
Dangote expressed his belief that his refinery could play a crucial role in alleviating these fuel shortages, but he also acknowledged that his presence in the oil sector has sparked discomfort among some stakeholders.
By proposing to sell the refinery, he aims to facilitate a smoother operation under the NNPC’s management.
Dangote’s decision to divest from the refinery reflects his commitment to the economic development of Nigeria.
He has faced significant challenges in securing a steady supply of crude oil for the refinery, which has led to operational difficulties.
Despite the refinery’s potential to transform Nigeria’s energy landscape and reduce dependency on imported fuel, Dangote’s business dealings have been met with scrutiny.
He has indicated that he is willing to step back from the spotlight to allow the NNPC to take over, believing that this could lead to a more effective resolution of the country’s fuel issues.