Former Nigerian Minister of Education, Oby Ezekwesili, has called for an independent audit of business dealings between the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Refinery.
The CEO of the Dangote Group, Aliko Dangote, revealed that NNPCL had capped its equity in the refinery at 7.2% instead of the speculated 20%.
Dangote claimed the agreement was 20%, but NNPC was given extension until June 2024 which they failed to meet up with the payment. NNPC confirmed this, saying it decided not to invest further in the refinery.
Ezekwesili recalled that the Nigerian government borrowed $3.3bn from Afriexim-Bank to acquire a stake in the Dangote refinery and therefore it seemed that “something seriously murky has gone on and needs to be fully unraveled.” (continued below…)
She called on President Bola Tinubu to use NEITI’s instrumentality to launch an independent audit of the Dangote refinery-NNPC transaction and offer the public the actual state of play.
Dangote also alleged that some top officials of the NNPCL own blending plants in Malta. NNPC boss, Mele Kyari denied the allegation and stated that he does not own or operate any business directly or by proxy anywhere except for a local mini-agric venture, and challenged Mr. Dangote to name specifically those involved..
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