The Chief Executive Officer, Dangote Group, Aliko Dangote has confirmed that Abu Dhabi National Oil Company and other strategic investors are interested in taking stakes in the Dangote Petroleum Refinery, but declined to disclose details of the potential investments because of non-disclosure agreements.
Dangote spoke with journalists in Lagos on Monday after a signing event connected to the refinery’s planned share offering, where he was asked to confirm reports that ADNOC was seeking a stake in the facility.
He said the refinery’s share offering was not “prompted by the current Middle East crisis or other temporary market conditions, insisting that its financial projections were based on normal market conditions.”
Asked specifically whether ADNOC was joining as an investor and whether other strategic investors were also seeking stakes, Dangote said the company had “agreements with several parties but could not disclose details.”
“I don’t want to—you know, there is what you call an NDA, you know, non-disclosure agreement. So, we have agreements with other people; it’s not only ADNOC, other people too. They are very, very interested.
