He said that the percentage had dropped from the original 20%.Dangote made this statement on Sunday when briefing reporters in Lagos State.
“NNPC no longer owns a 20% stake in the Dangote refinery,” the speaker declared. They still haven’t paid the remaining amount that was supposed to be paid in June. They currently only hold 7.2% of the refinery.
The vice president of oil and gas at Dangote Industries Limited, Devakumar Edwin, accused international oil companies in Nigeria of plotting to thwart the survival of the new Dangote Oil Refinery and Petrochemicals while speaking to journalists on Friday at a one-day training program hosted by the Dangote Group.
Additionally, Edwin charged that the Nigerian Midstream and Downstream Petroleum Regulatory Authority had arbitrarily granted marketers licenses to bring in tainted refined goods.
He said that despite the Nigerian Upstream Petroleum Regulatory Commission’s best efforts, “the IOCs are deliberately and willfully frustrating our efforts to buy the local crude,” meaning that crude oil was not being allocated for the refinery with a capacity of 650,000.
He claimed that this was accomplished by raising the price over the going rate, which forced the refinery to import oil from nations all the way up to the United States, which came at a hefty cost.
Furthermore, under a pricing mechanism set by the market, the Federal Government of Nigeria and its crude oil producers have demonstrated their commitment to pursuing a sustainable supply of crude oil to regional refineries.
According to both sides, the pledge was made to make sure refineries would not run out of feedstock while operators, or crude oil producers, continued to operate at peak efficiency.
As a result, oil refiners in the nation are required by the industry watchdog, the Nigeria Upstream Petroleum Regulatory Commission, to provide monthly price bids for crude supply.
The refinery is scheduled to import a shipment of Brazilian crude.
It stated that this would increase the quantity of foreign barrels of crude feedstock that the Nigerian company was bringing in.
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