Under Buhari's government, the NNPC committed to investing $2.7 billion to purchase a 20% stake in the Dangote Refinery.
In January, after facing significant pressure, the NNPC released its Audited Financial Report for 2022. The report stated that they had acquired a 20% stake in the Dangote Refinery for $2.7 billion.
According to the report, $1.036 billion was obtained from Lekki Refinery Funding Limited, and $1 billion was paid to the Dangote Refinery, representing approximately 37% of the total investment. The remaining $36 million was attributed to transaction costs.
However, Dangote has refuted these claims, calling them false.
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