Oil marketers have expressed divergent views on the proposed acquisition of a 20 per cent stake by the Nigerian National Petroleum Corporation in Dangote refinery.
“Negotiations have reached an advanced stage. We are hoping to wrap up the negotiations before the refinery goes on stream. This is a deliberate move to ensure that the risk associated with refinery business does not weigh solely on Dangote Industries, and also a bold statement that the government is ready to encourage private investors in the building refineries,” a company spokesman was quoted as saying.
He said, “Dangote Group, owners of the Dangote refinery, should be allowed to operate the refinery efficiently as a private entity. The National Operations Coordinator, Independent Petroleum Marketers Association of Nigeria, Michael Osatuyi, described the move by the NNPC as a welcome development since the corporation would not be acquiring a majority stake in the refinery.
This video says it all, Imagine NPPC buying a stake in dangote refinery when none of our refinery is working
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