Aliko Dangote, President of Dangote Group, has offered to sell the Dangote Refinery to the Nigerian National Petroleum Corporation Limited (NNPCL). In an exclusive interview with Premium Times on Sunday, Dangote expressed his willingness to sell the refinery to address allegations of monopolizing the industry. He suggested that NNPCL's acquisition of the refinery would negate these allegations.

"Let them (NNPCL) buy me out and run the refinery the best way they can. They've labeled me a monopolist. That’s incorrect and unfair, but if they buy me out, their so-called monopolist would be out of the way," he said. Dangote emphasized that the refinery could help resolve Nigeria's long-standing fuel crisis but acknowledged some people seem uncomfortable with his involvement.

This statement follows claims by Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, who alleged that the Dangote refinery had requested the regulator to stop issuing import licenses to other marketers to be the sole fuel supplier in Nigeria. Ahmed argued this reliance on one refinery is not good for national energy security or market competition. He also claimed the refinery's products are inferior in quality, citing sulphur content higher than the West African standard.

Dangote disclosed that the challenges facing his refinery validate warnings from friends and associates who advised caution in investing billions of dollars in the Nigerian economy. At 67, he stated he needs very little to live the rest of his life and is willing to let NNPCL take over to ensure high-quality products and job creation for the country.

The Dangote Refinery, operational since last year after prolonged construction, has a capacity of 650,000 barrels per day, aiming to reduce Nigeria's dependence on foreign fuel imports and conserve foreign exchange.