The Nigerian National Petroleum Corporation (NNPC) Limited has firmly denied any involvement in the alleged sabotage of the Dangote Refinery, emphasizing its significant financial commitment to the project.
In a recent interview on the Bereke Family Radio Programme, broadcasted on YouTube, Olufemi Soneye, Chief Corporate Communications Officer of NNPC, clarified that the oil company had invested billions of naira in the refinery. He pointed out that any sabotage would be counterproductive, given NNPC’s 7.2% stake in the 650,000-barrel-per-day petrochemical plant.
“We want all Nigerians to know that NNPC Limited has no issues with Dangote Refinery. We are part owners, holding a 7.2% stake, and it would be illogical for us to sabotage such a significant investment,” Soneye stated.
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Soneye also addressed concerns raised by Farouq Ahmed, head of Nigeria’s mainstream and downstream petroleum regulatory authorities, clarifying that Ahmed’s role is independent of NNPC’s operations.
NNPC Explains Reduction in Dangote Refinery Stake
In addition, Soneye explained NNPC’s decision to reduce its stake in the Dangote Refinery, choosing instead to reallocate investments towards Compressed Natural Gas (CNG) projects across Nigeria. He noted that CNG offers a more affordable and cleaner energy alternative, with significant benefits for Nigerian consumers.
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“We recognized the potential of CNG as a cheaper and more sustainable energy source. For just N10,000, Nigerians can fill their cars and use them for two weeks, which is why we are building CNG stations nationwide,” Soneye added.
Dangote Refinery and Crude Oil Supply Dispute
The Dangote Refinery has recently been at the center of a dispute with Nigerian oil sector authorities over the supply of crude oil. The Federal Executive Council (FEC) recently approved a policy shift, allowing crude oil to be sold to the refinery in Naira instead of U.S. dollars, in accordance with the Petroleum Industry Act (PIA). This policy ensures that local refineries, including Dangote Refinery, have the necessary crude oil for their operations.
