Nigeria must find crude oil for Dangote Refinery and other refinery investors. Even if we have been forward-prepaid, via our endless borrowing, by big Wall Street banks for these assets, Nigeria as a nation cannot cripple these entrepreneurs. I understand that if you secure loans with our crude oil, looking at your daily production, you may not have extra to send to Dangote Refinery, etc, and if that is the case, the people who executed these transactions without looking at the whole obligations must be brought to answer questions.
“According to a report by BusinessDay, quoting sources at the Ministry of Petroleum Resources in Abuja, Nigeria is currently at risk of losing a substantial portion of its equity in the Dangote refinery due to its failure to fulfill the obligations outlined in the agreement for the equity acquisition.
“Against this backdrop, the report notes that the NNPC is urgently seeking to source crude oil from domestic producers, raising concerns among investors in the industry. Since the 650,000 barrels-a-day Dangote refinery was commissioned in May, it has remained inactive, awaiting the supply of crude oil”
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Find the crude oil and send it to refineries in Nigeria.
Nigeria At Risk of Losing High Portion of Its 20% Equity in Dangote Refinery
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