Nigerian National Petroleum Corporation Borrows To Acquire 20 Percent Equity In Dangote Refinery
Jun 30, 2021 ·
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The Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari explained why the national oil company is purchasing a stake in the Dangote oil refinery. The refinery is expected...
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The Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari explained why the national oil company is purchasing a stake in the Dangote oil refinery.
The refinery is expected to begin production in 2022 with an installed 650,000 barrels per day capacity. It has been touted as a groundbreaking project for energy security in the country and for the African continent.
He argued that the decision was also driven by the profit potential of the refinery business. He says the net effect is that Nigeria will become the hub of petroleum products and supplies.
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The refinery is expected to begin production in 2022 with an installed 650,000 barrels per day capacity. It has been touted as a groundbreaking project for energy security in the country and for the African continent.
He argued that the decision was also driven by the profit potential of the refinery business. He says the net effect is that Nigeria will become the hub of petroleum products and supplies.
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