Aliko Dangote, President of the Dangote Group, has offered to sell the Dangote Refinery to the Nigerian National Petroleum Corporation Limited (NNPCL) amid allegations of monopolistic practices in the industry.
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In an interview, Dangote expressed his willingness to sell the refinery as a solution to these accusations and to help improve Nigeria’s ongoing fuel crisis.
“Let them (NNPCL) buy me out and run the refinery the best way they can. They have labeled me a monopolist. That’s an incorrect and unfair allegation, but it’s OK. If they buy me out, at least their so-called monopolist would be out of the way,” Dangote said.
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Dangote highlighted the persistent fuel crisis in Nigeria since the 1970s and his belief that the Dangote Refinery could play a crucial role in resolving the issue.
However, he acknowledged that some individuals are uncomfortable with his involvement in the sector.
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“We have been facing a fuel crisis since the 70s. This refinery can help in resolving the problem, but it appears some people are uncomfortable with me being in the picture. So I am ready to let go and let the NNPC buy me out and run the refinery,” he added.
This statement follows claims by Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, who alleged that the Dangote Refinery had requested the regulator to halt issuing import licenses to other marketers, positioning itself as the sole fuel supplier in Nigeria.
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“We cannot rely heavily on one refinery to feed the nation because Dangote is requesting that we should suspend or stop the 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. And that is not good for the market because of monopoly,” Ahmed stated in a video interview with State House correspondents.
