The Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, yesterday explained why the national oil company was purchasing a stake in Dangote oil refinery, saying it was for both energy and fiscal security of the country. According to him, there is no resource-dependent country that would have such a gigantic project without having a stake in it. 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. In May, the NNPC announced that it plans to acquire a 20 percent equity stake in the private company, led by billionaire Aliko Dangote. Speaking in an interview on Channels Television breakfast programme, Sunrise Daily, said: “There is no resource-dependent country that will watch a business of this scale, which borders on energy […]