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Aftermath of Monopoly Allegation: Dangote Offers to Sell Refinery to NNPC
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Africa’s wealthiest man Aliko Dangote said he is willing to give up ownership of his multibillion-dollar oil refinery to the state-owned energy company NNPC Limited.
The billionaire spoke as a new dispute with one of the key equity partners in the plant heats up in the latest phase of a bitter row with regulatory authorities in Nigeria.
The 650,000 barrel-per-day refinery, which came to life last year after a decade of prolonged construction, cost $19 billion, more than double the initial estimate, promising to help wean Africa’s biggest oil producer off its reliance on fuel from overseas and save up 30 per cent of the total foreign exchange spent on importing goods.
“Let them (NNPCL) buy me out and run the refinery the best way they can. They have labelled me a monopolist. That’s an incorrect and unfair allegation, but it’s OK. If they buy me out, at least, their so-called monopolist would be out of the way,” Mr Dangote told PREMIUM TIMES in an exclusive interview on Sunday.
“We have been facing fuel crisis since the 70s. This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, run the refinery.”
The multisectoral investor’s big bet on oil and gas, which he ventured into following years of relatively stress-free dominance of Nigeria’s cement, salt and sugar industries, is turning out problematic in its early days.
Set for its first roll-out of petrol to the Nigerian market in August, the mammoth plant has been operating just above half its capacity since the January start of refining operations, constrained in part by difficulties in sourcing crude from international producers.
Dangote Refinery said those companies are either demanding outrageous premiums before agreeing to supply crude or simply claiming the product is unavailable.
NNPC, once a sweetheart of the refiner before the current dispute soured relations, had delivered only 6.9 million barrels of oil to the plant as of May since last year, according to S&P Global Platts, a tracker of supply data.
NNPC Limited has a supply deal with the company dating back to the commencement of operations and previously agreed to a 20 per cent equity participation, the refinery saying only 7.2 per cent has been fully paid for before the deadline issued to the company to acquire the stake.
Starving the refinery of the feedstock required to keep it running at present capacity means it has turned to countries like Brazil and the US to bridge the gulf in supply.
“As you probably know, I am 67 years old, in less than three years, I will be 70. I need very little to live the rest of my life. I can’t take the refinery or any other property or asset to my grave. Everything I do is in the interest of my country,” Mr Dangote told PREMIUM TIMES.
“This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, run the refinery. At least the country will have high-quality products and create jobs,” he added.
Mr Dangote said the obstacles his refinery is facing seem to have vindicated friends and associates who conselled him to tread with caution as he pumped billions of dollars into the Nigerian economy.
“Four years ago, one of my very wealthy friends began to invest his money abroad. I disagreed with him and urged him to rethink his action in the interest of his country. He blamed his action on policy inconsistencies and shenanigans of interest groups. That friend has been taunting me in the past few days, saying he warned me and that he has been proven right,” the businessman said.
Culled from Premium Times
Headlines
ASUU Threatens Fresh Nationwide Strike over Unmet 2025 Pact
The Academic Staff Union of Universities (ASUU) has warned that Nigeria’s public universities could face another nationwide strike unless the Federal and State governments urgently address outstanding salary, welfare, and implementation issues affecting university lecturers.
The warning, it said, followed an emergency National Executive Council (NEC) meeting held at the union’s National Secretariat at the University of Abuja on September 5, 2026.
The union said that at the centre of the dispute are the non- or haphazard implementation of the December 2025 Federal Government-ASUU agreement, three-and-a-half months of withheld salaries dating from the previous administration, unremitted third-party deductions and concerns over university autonomy.
ASUU President, Christopher Piwuna, said the union would not accept responsibility for any disruption of academic activities if the outstanding issues were not resolved.
“Except for recent attempts by the Federal Ministry of Education to defray outstanding salaries for Federal Universities of Agriculture, there have been no concerted efforts to address our concerns and worries on a sustainable basis,” said the union.
“Each month, lecturers have been forced to be at daggers drawn with their vice-chancellors over uncertainty of when and what part of their salaries would be paid. This time, the union’s message to the nation is clear: Unless immediate and concrete steps are taken to FULLY and COMPREHENSIVELY address issues bordering the welfare and well-being of Nigerian academics, ASUU-NEC will not accept any blame for calling out its members on a nationwide strike action within the shortest time possible,” he stated.
The union said the unresolved issues are already creating industrial tensions in universities, with some state university branches moving towards strike action
ASUU commended states including Bauchi, Ekiti, Ogun, Benue, Yobe, Adamawa, Kebbi, Katsina and Borno, where implementation of the 2025 Agreement has commenced. It also noted pledges to begin implementation in Kano, Edo, Plateau, Taraba, Gombe and Bayelsa in September or October.
The union said universities concerned had been notified of the commencement of strike actions unless satisfactory progress was recorded.
There have been a series of industrial disputes in recent weeks.
ASUU chapters at the University of Medical Sciences, Ondo, and Plateau State University had declared indefinite strikes over unresolved demands, including implementation of the 2025 agreement and payment of arrears.
At Sule Lamido University, Kafin Hausa, the ASUU branch also announced a two-week warning strike beginning September 15 over unresolved issues with the Jigawa State Government, with a warning that the action could escalate into a total and indefinite strike.
ASUU stated that three-and-a-half months of the seven-and-a-half months of salaries withheld during the Buhari administration remain unpaid.
The union acknowledged that President Bola Tinubu’s government had paid four months but said the outstanding balance continued to impose financial and psychological hardship on lecturers.
It also said the value of the withheld income had fallen by more than 50 per cent since 2022.
“It will do this government a lot of good to restore the full confidence of lecturers in the nation-building project, for which Nigerian scholars are critical pillars and pivots. We state for the umpteenth time that the lecturers have done the work for which they are being punished.
“They did it at huge cost to their physical and psycho-social well-being. Some lost their lives in the process, and many are now managing life-threatening ailments. For healing and restoration in the Nigerian University System (NUS), we think the withheld salaries of lecturers should be released without further delay. As for us in ASUU, we shall not give up until our cries get an empathetic attention in the appropriate quarters,” its president stated.
The union further said pension contributions, cooperative society deductions and union check-off dues deducted from lecturers’ salaries, running into billions of naira, had not been appropriately remitted for several months.
ASUU said the issue of third-party deductions had produced only limited progress in its engagements with government and warned that it was prepared to call out its members if the matter was not resolved.
The warning comes even as the Federal Government announced steps towards implementing part of the 2025 agreement.
On September 9, the government said it had released funds for the full payment of the Consolidated Academic Tools Allowance to academic staff in federal universities, polytechnics and colleges of education for January to August 2026.
The Education Minister, Tunji Alausa, said the payment was being implemented in line with the 2025 FGN-ASUU Agreement.
ASUU, however, said other core elements of the agreement remained unresolved.
But the union warned that the situation could push more universities into industrial action and called on students, parents, labour leaders, the media and other Nigerians to intervene before the crisis escalates.
“In no mistaken terms, ASUU posits that the non- or haphazard implementation of the 2025 FGN-ASUU Agreement by federal and state governments is a recipe for industrial crisis in Nigeria’s public universities,” its president stated. “In the same vein, withholding the three-and-a-half months’ salaries and third-party deductions by the government is an ill wind for lasting peace on our campuses. We call on students, parents, media practitioners, labour leaders and other patriotic Nigerians to come into the brewing crisis before it gets out of hand.
“ASUU cannot guarantee an uninterrupted academic calendar at the expense of the existential needs of our members. We shall not watch helplessly while red-tapism incrementally frustrates and destroys what is left of the academic profession and universities in Nigeria.”
ASUU said its latest position is not an immediate declaration of a nationwide strike, but a warning that its suspended industrial action could be activated if the government fails to respond satisfactorily.
The union said its doors remained open to negotiations with the Federal and State governments, but maintained that the welfare of lecturers could not continue to be separated from the stability of Nigeria’s university system.
Headlines
Eguavoen Named Super Falcons Interim Coach
A former head coach of the Super Eagles, Austin Eguavoen, has been appointed to lead Nigeria’s Super Falcons on a temporary basis as the search for a permanent manager continues.
His immediate assignment is navigating the 2028 Olympic Games second-round qualifying tie against Comoros this October.
Eguavoen brings top-tier experience to the role, having previously guided the Super Eagles to a bronze medal at the 2006 Africa Cup of Nations in Egypt.
Joining the interim technical crew is Nasarawa Amazons head coach Christopher Danjuma, who recently led the Falconets at the 2024 FIFA U-20 Women’s World Cup.
Former Super Falcons defender Ayisat Yusuf – who earned 68 caps and featured at the 2008 Beijing Olympics – also joins as an assistant coach, alongside veteran goalkeeper trainer Olatunji Baruwa.
The 10-time African champions will kick off their campaign against Comoros, who advanced after a staggering 30-0 aggregate win over Sudan.
Both legs of the fixture will take place at the Remo Stars Stadium in Ikenne-Remo on October 9 and 13, 2026.
To secure one of Africa’s two spots at the Los Angeles 2028 Games, Nigeria must navigate four two-legged knockout rounds.
Should they beat Comoros, the Super Falcons will move on to the third round in early 2027 to face either Morocco or the Democratic Republic of Congo. Subsequent rounds are set for late 2027, where potential clashes against sides like Cameroon, South Africa, or Zambia loom in the final stretch.
Headlines
Defence Minister Musa Accuses El-Rufai of ‘Terrible’ Crimes As Kaduna Gov
The Minister of Defence, Gen. Christopher Musa, has accused a former Governor of Kaduna State, Nasir El-Rufai, of deliberately planning the killing of people in Southern Kaduna.
Musa made the allegation while fielding questions on Channels Television’s Politics Today programme on Thursday.
The minister said El-Rufai’s administration created deep divisions in Kaduna State, alleging that the situation made it difficult for residents from Southern Kaduna to live freely in the northern part of the State and vice versa.
According to him, the administration of the current governor, Uba Sani, has made deliberate efforts to restore unity and rebuild trust among residents of the State.
“We know how it was when El-Rufai was there; it was toxic,” Musa said.
“El-Rufai did a lot of terrible things in Kaduna State. He divided the country, the State, into two. In that, if you are from the South, you cannot go to the North and live. Those ones from the North were moving to the South.
“Governor Sani within one year has been able to dissolve all that. You see, now everybody is free, everybody has a say. It’s not 100%. Let me tell you, it’s not 100%, but you can see that he’s making deliberate effort in uniting the state.”
Speaking on the feelings of people in Southern Kaduna towards the former governor, Musa said the people remained deeply pained over killings recorded in the area during El-Rufai’s tenure.
He alleged that El-Rufai deliberately planned the killing of people in the region.
“Well, I don’t know if unhappy is an issue. I think if there’s anything worse than unhappy, we can never be happy with somebody who has deliberately planned for the killing of our people,” Musa said.
“I mean, when you look at it, if you look at his videos, you know, his speeches, he was very proud of what he did.
“He told us he paid bandits. He told us he did this, he did that. He didn’t hide it. He was that arrogant to come out and tell people that this was what he did.”
The Defence Minister said residents of Southern Kaduna were still traumatised by the killings that occurred during the period, adding that the security situation in the area had improved under the current administration.
“The Southern Kaduna people are still very pained. Of course, definitely. I mean, if you look at the number of killings that was done there and what is going on now, you can’t compare at all,” he said.
Musa further accused El-Rufai of denying some people opportunities during his administration and alleged that the former governor’s policies affected even people from his own part of the state.
“I can tell you what he has done to people living in Kaduna from his own area. He did a lot of things that I’m sure even him is not proud of,” he added.
The minister, however, called on Nigerians to reject politicians who exploit religion, ethnicity and other differences to divide the country.
“We should get politicians that want to unite Nigeria. For me, any individual who is using either religion, tribe, creed, or anything to divide the state can never be a friend; can never be somebody we look up to,” Musa said.
“We shouldn’t have those kind of ones in government. Anybody who is using religion or tribe or whatever to divide Nigeria is an enemy of the State.”






