Aliko Dangote, Africa’s Wealthiest Man has offered to sell his multibillion dollar petrochemical refinery in Lagos to the state owned NNPCL in response to allegations that he’s trying to create a monopoly.
The government controlled oil corporation has been trenchantly criticised for mismanaging the four refineries in Kaduna, Warri and Port Harcourt, raising doubts of its capacity to manage any refinery successfully.
Not a few Nigerians have called for the sack of the NNPCL management by the federal government, describing them incapable of making the refineries work.
The $20 billion worth Dangote refinery was commissioned last year by the immediate past President Muhammadu Buhari, but has been enmeshed in a serious controversy lately over operational issues, one of which is the allegation that Dangote is trying to block other players in the oil and gas business.
The businessman has denied the allegation amidst calls by the government regulators in the sector, on him not to expect any concession.
Recall also that the NNPLC has recently reduced its shares in the Dangote Refinery to 7. 2 percent from the earlier 20 percent deal it signed with Dangote, raising more posers on the whether the government has dumped its support for the local producer.
Reacting to NNPCL allegation that he’s trying to create a monopoly, Dangote said on Sunday that the oil corporation could buy him out in other to stop this from happening.
“They have labeled me a monopolist,” he said, but once NNPLC takes over the refinery, “the allegations of monopoly would no longer be valid.”
He explained that the reason why he ventured to build the refinery was to end Nigeria’s dependence on importation of petroleum products, and to create jobs for Nigerians saying some powerful people in the country appear not to be happy with him.
“We have been facing fuel crisis since the 70s. This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, run the refinery,” he told Premium Times.
He said he’s ready to give up the project if this will end the current attack against him.
He said, “As you probably know, I am 67 years old, in less than three years, I will be 70. I need very little to live the rest of my life. I can’t take the refinery or any other property or asset to my grave. Everything I do is in the interest of my country.
“This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, run the refinery. At least the country will have high-quality products and create jobs.”
Under the NNPCL, the country’s four refineries have become comatose despite the N12 trillion, experts claimed has been spent on Turn Around Maintenance, TAM for years.
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