The Nigerian National Petroleum Company (NNPC) Limited has refuted widespread claims that it deliberately hindered the construction and operation of the $20 billion Dangote Petroleum Refinery. The company described such allegations as illogical, especially given that it holds a 7.25% stake in the refinery.
Tensions had escalated in recent months between the Dangote Refinery, owned by Nigerian businessman Aliko Dangote, and various oil regulators. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) accused the refinery of producing substandard diesel and attempting to enforce a market monopoly. In response, Dangote claimed that certain regulatory officials, including some within the NNPC, were attempting to frustrate his operations by withholding crude oil supplies, alleging that they had personal interests in blending plants abroad.
The situation led to a standoff, which required the intervention of President Bola Tinubu to mediate. Following his involvement, an agreement was reached to secure crude oil supplies for the Dangote Refinery, enabling the imminent rollout of fuel from the facility.
In a media chat, Dapo Segun, NNPC’s Executive Vice President (Downstream), dismissed the sabotage claims, stating that they were baseless and defied logic, particularly given NNPC’s equity stake in the refinery. He emphasized that NNPC had gone above and beyond to ensure the refinery’s success, adding that any delays in reaching a crude supply agreement were part of standard business negotiations governed by contractual terms and conditions.
Segun reiterated that the NNPC’s interests align with the refinery’s success, reinforcing the company’s commitment to supporting the project.