The President of the Dangote Group, Alhaji Aliko Dangote, has said the group rejected requests by the Nigerian National Petroleum Company Limited to increase its 7.25 per cent stake in the Dangote Petroleum Refinery.
Dangote stated this in an interview with the Chief Executive Officer of the Norwegian Sovereign Wealth Fund, Nicolai Tangen. The interview was monitored by one of our correspondents on Wednesday.
This came as findings by the news men showed that petrol supply from the $20bn Lekki-based refinery rose to 3.18 billion liters in the first quarter of 2026, while imports fell sharply to 965.52 million liters.
Further findings indicated that the average domestic ex-depot petrol price from the Dangote refinery across January to March 2026 was about ₦1,000 per litre. This implies that the multi-billion-dollar plant supplied over N3.2tn worth of petrol domestically during the review period.
Also, the war between the United States and Iran, and its resultant disruption of the oil sector and other sectors, has led to increased revenue for the Dangote refinery, as the plant has raised its refined petroleum products export.