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The Nigerian National Petroleum Corporation Limited (NNPCL) said on Monday it had not increased its previous investment in the 650,000 barrel-per-day Dangote Refinery for commercial reasons.
NNPCL Chief Information Officer, Olufemi Soneye disclosed this in a brief statement in Abuja.
He was responding to a statement by Dangote Refinery Chairman Aliko Dangote, who said that NNPC’s shareholding is now 7.2 percent, up from the 20 percent previously stated.
According to Soneye, a few months ago NNPCL had decided to limit its investment to the amount it had paid.
ALSO READ: Dangote refinery renews shareholding, NNPC portion drops to 7.2%
Soneye said the decision not to invest further in the Dangote refinery had no impact on NNPC’s business.
He said: “A few months ago, we made a commercial decision to limit our investment to the amount that had been paid.
“This decision was taken by NNPC Ltd and has no impact on our business.”
However, this position contradicts the widely publicized claim by NNPCL Group Chief Executive Mele Kyari that the company had purchased a 20 percent stake in the Dangote Refinery.
By: Babajide Okeowo
The post Why we are not increasing investment in Dangote Refinery – NNPCL first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.
