NNPC looking to buy 20% stake in Dangote refinery Dangote expects refinery to come online next year NNPC desperate to reduce fuel imports State-owned Nigerian National Petroleum Corp., or NNPC, is in advanced talks with Dangote Industries to acquire a 20% stake in the 650,000 b/d Dangote oil refinery, a company spokesman said May 27. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Negotiations have reached an advanced stage…,” the spokesman said. “We are hoping to wrap up the negotiations before the refinery goes on stream. This is a deliberate move to ensure that the risk associated with refinery business does not weigh solely on Dangote Industries, and also a bold statement that the government is ready to encourage private investors in the building refineries.” The Dangote plant located in the outskirt of Nigeria’s commercial capital Lagos — which will be Africa’s largest refinery […]