The Centre for Transparency Advocacy (CTA) has called on the Nigerian National Petroleum Corporation (NNPC) to provide clarity regarding its ownership stake in the Dangote Refinery, following recent statements by Aliko Dangote.
In a press statement issued in Abuja on Monday, CTA Executive Director Faith Nwadishi expressed concern over the discrepancy between Dangote’s recent claims and previous public statements about NNPC’s involvement in the project.
Aliko Dangote, Chairman of Dangote Group, stated on July 14, 2024, that NNPC’s stake in the refinery has been reduced from the initially agreed 20% to 7.2%. Dangote explained, “The agreement was actually 20% which we had with NNPC and they did not pay the balance of the money up till last year and then we gave them another extension up till June (2024) and they said that they would remain where they have already paid which is 7.2%. So, NNPC, the government owns only 7.2% not 20%.”
The CTA said the statement contradicts earlier assertions made by NNPC Group Managing Director Mele Kyari in 2021, who had emphasized the strategic importance of the investment
Kyari had stated, “The decision to own a stake in the refinery was driven by the profit potential of the refinery business and the need to have a say in the of this magnitude… which borders on energy security for Nigeria and Africa, with huge implications for fiscal security of the country.”
The CTA is now calling on NNPC to:
1. Clarify its current ownership position in the Dangote Refinery
2. Provide details of any agreements or transactions related to its stake in the project
3. Explain any changes to its ownership structure
Nwadishi emphasized CTA’s commitment to promoting transparency and accountability in Nigeria’s oil and gas sector. “We believe the public has a right to full disclosure regarding this crucial project, which has significant implications for the nation’s economy and energy security,” she stated.
The advocacy group pledged to continue monitoring the situation to ensure public interests are protected while awaiting NNPC’s prompt response.
