Dangote refinery announced yesterday at a press briefing in Lagos that the challenges it faced in the supply of crude that affected its operations and caused delay in supplying Nigerians petrol has been resolved and is set to start supplying petrol next month August 2024.
The Chief Executive Officer of Dangote Industries Limited, Aliko Dangote disclosed that the issue of crude oil supply was addressed through the help of the Nigerian National Petroleum Company Limited and the Federal Government.
He noted that the issue the refinery was having with international oil companies regarding the supply of crude was resolved last week.
“The issue of crude has been settled last week. But we hope that the IOCs will respect it, ” he added.
Dangote also revealed that NNPCL no longer owns a 20% stake in its refinery as the firm now owns only 7.2% of the refinery due to what he described as the company’s failure to pay the balance of their share, which was extended till June 2024
He stated that while the NNPCL had promised to provide the funds, it had been unable to meet its obligations, thus reducing its stake in the refinery to 7.2 percent.
He also announced plans to list the much-anticipated refinery and fertilizer plants on the Nigerian Exchange Group (NGX) by the first quarter of 2025.
The decision to list the two subsidiaries comes as the conglomerate seeks to expand its investor base and unlock further value for shareholders.
