Aliko Dangote, chairman of Dangote Group and Africa’s richest person, says the Nigerian National Petroleum Corporation (NNPC) will not pay for 20 percent minority equity stake in the Dangote Refinery in a single cash transaction. Speaking on Tuesday during an interview on Arise TV, Dangote said only one-third of the $2.76 billion deal with the NNPC would be paid in cash. The Dangote Refinery is a 650,000 barrels per day integrated refinery project under construction in the Lekki Free Zone, Lagos. It is expected to be Africa’s biggest oil refinery…
Read MoreHOW NNPC WILL FUND $2.7 BN EQUITY DEAL IN OUR REFINERY–DANGOTE OPENS UP
