“Let them (NNPCL) buy me out and run the refinery the best way they can,” Mr Dangote says.
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The multisectoral investor’s big bet on oil and gas, which he ventured into following years of relatively stress-free dominance of Nigeria’s cement, salt and sugar industries, is turning out problematic in its early days. NNPC Limited has a supply deal with the company dating back to the commencement of operations and previously agreed to a 20 per cent equity participation, the refinery saying only 7.2 per cent has been fully paid for before the deadline issued to the company to acquire the stake.
Mr Dangote said the obstacles his refinery is facing seem to have vindicated friends and associates who conselled him to tread with caution as he pumped billions of dollars into the Nigerian economy. A high sulphur content in fuel could be injurious to vehicle engines and is known to be harmful to the environment in that it further heats up the fast-warming climate.
“The Chairman of the House Committee on Downstream, Ikenga Ugochinyere, and Chairman of the House Committee on Midstream, Okojie Odianosen, oversaw the collection of samples from the Mild Hydro Cracking unit of Dangote refinery for testing of all the samples,” the statement said.“Lab tests revealed that Dangote’s diesel had a sulphur content of 87.6 ppm , whereas the other two samples showed sulphur levels exceeding 1800 ppm and 2000 ppm respectively.
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