Nigeria’s NNPC takes stake in Dangote Refinery

Nigeria

LAGOS, August 6, 2021 – The Nigerian government has approved the NNPC’s USD 2.76-billion purchase of a 20% stake in the Dangote Refinery, Minister of State for Petroleum Resources Chief Timipre Sylva said on Wednesday.

The USD 19-billion Dangote Refinery is currently under construction in Lagos and is set to begin operation in January 2022.

It will have a capacity of 650,000 bpd – more than the current combined 445,000-bpd capacity of Nigeria’s four state-owned refineries.

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