JUST IN: Reps To Probe Alleged Dangote Refinery Oil Allocation Issues

The House of Representatives has taken steps to investigate claims that the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and International Oil Companies (IOCs) operating in Nigeria have collaborated to withhold crude oil supplies from Dangote Refinery, thus obstructing its operations.

Additionally, the House will examine allegations made by Aliko Dangote, Chairman of Dangote Refinery, asserting that Nigeria’s stake in the refinery stands at only 7 percent, contrary to the widely known 20 percent ownership.

In response to a motion of urgent public importance sponsored by Minority Leader Hon. Kingsley China, the House has directed the Minister of Petroleum Resources and the NUPRC to provide necessary support to Dangote Refinery to ensure its operational success.

Recall that the Chief Executive Officer (CEO) of Dangote Refinery, Aliko Dangote, during a press briefing at the refinery on Sunday, announced that the Nigerian National Petroleum Corporation (NNPC) Limited no longer owns a 20% stake in Dangote Refinery.

According to him, the NNPCL only owns 7.2% of the refinery due to the NNPC’s failure to pay the balance of their share, which was due last month in June.

“NNPC no longer owns 20% stake in the Dangote refinery. They were met to pay their balance in June, but have yet to fulfill the obligations. Now, they only own a 7.2% stake in the refinery,” Dangote said.

The NNPC also confirmed the development in a statement late Sunday.

“NNPC Limited periodically assesses its investment portfolio to ensure alignment with the company’s strategic goals,” said a spokesman for the company.