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The Daily Verified Briefing

Dangote Rejects NNPC Stake Increase for Planned Refinery IPO

Published 19 May 2026

Aliko Dangote, Africa’s richest man and head of the Dangote Group, has revealed he declined a proposal from the Nigerian National Petroleum Company Limited (NNPC) to increase its stake in the $20 billion Dangote Petroleum Refinery.

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