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Controversy As Nigerian Petrol Company, NNPCL 2022 Audited Report Shows It Paid 20% Shares In Dangote Refinery
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The Nigerian National Petroleum Corporation Limited (NNPCL) Audited Report for 2022 has shown it paid for 20% shares in the Dangote Refinery.
The revelation came despite Dangote’s denial that the what the corporation paid was only 7.2%.
A report by Afrisagacity shared on X handle analysed that under President Muhammadu Buhari’s regime, the NNPC committed to invest $2.7bn and buy 20% shares in the Dangote Refinery.
According to the report, in January, the NNPC, after intense pressure, released its Audited Financial Report for 2022. In the report, they stated that they purchased 20% shares in the Dangote Refinery for $2.7billion.
They claimed to have obtained $1.036 billion (as part of the funding) from Lekki Refinery Funding Limited. $1 billion was paid to Dangote Refinery – which is about 37% of $2.7 billion they claimed to have invested.
Of course, the remaining amount of $36 million was for just transaction costs.
Tinubu took over from Buhari and, in December, he set up a new NNPC Board, where he made his longtime friend and ally, Pius Akinyelure the NNPC Board Chairman and reappointed Malam Mele Kyari as NNPC Group CEO.
In a sudden turn, the NNPC that had committed to buy 20% shares, backed down. Dangote had given them an extension period (till June) to complete the $2.7 billion for the shares. But they couldn’t.
Meanwhile, the public still believed that they had a 20% shares in the Dangote Refinery – not until Sunday, when Dangote himself, revealed that the NNPC had invested only 7.2%.
Shortly after Dangote broke the news, the NNPC rushed to react. In its defence, it said “NNPC Limited periodically assesses its investment portfolio to ensure alignment with the company’s strategic goals.”
“One, what exactly are the NNPC “strategic goals?” They say it’s “to ensure access to affordable, reliable, sustainable and modern energy for all”.
“How and when did the NNPC 20% equity investment in the Dangote Refinery go against its “strategic goals” as highlighted above?
“Two, in its statement, the NNPC validated what Dangote said that they invested only 7% of the $2.7 billion they initially committed to pay.
“This sharply contrasts and invalidates their claim of paying $1 billion to Dangote Refinery (for the shares) in 2022 – which is about 37%.
“So, if the NNPC confirmed that they had paid $1 billion to Dangote Refinery – which is about 37% – how did they come about the 7%?
“Also, where is the balance? Did Dangote Refinery refund it?
“Three, why exactly did the NNPC back down on their initial commitment of investing 20% on the Dangote Refinery shares?
“Is it truly true that they realigned their “investment portfolio, according to their strategic goals” or is it a grand plan that’s wrapped in a scam deal?” the report queried.
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Teenage girl allegedly stabbed parents to de@th, stabbed family dog, sent crime scene photos to friends
A 15-year-old girl from Groningen in the Netherlands was arrested after her parents, Johan and Mathilda, both 53, were found f@tally stabbed last Thursday, June 18, Dutch outlet Algemeen Dagblad reported.
The family’s pet golden retriever also suffered stab wounds in the rampage, the Sun reported.
The dog’s condition is unclear.
The girl took images of her slain parents and then shared the disturbing photos with her friends on WhatsApp after the bloody attack, the Telegraaf reported.
“You could see both of her parents lying on the ground with their eyes open. Her father was lying on the floor, and her mother was on the bed. There was blood visible and a knife,” one student told the outlet in Dutch.
Local police declined to comment further on the images, but encouraged people to never distribute such images online and report them to the police, the reports said.
The girl reportedly struggled with her identity and often pretended to be a dog, crawling around and barking on all fours with other friends in school corridors.
“She wore a tail, dog ears, and gloves,” another classmate told the outlet. “And sometimes she would make barking sounds.”
Johan and Mathilda’s relatives said in a statement obtained by Algemeen Dagblad that they “can hardly comprehend” the murd£rs.
‘We hope that everyone understands that we are deeply affected by the tragic events surrounding the passing of Johan and Mathilda from Meerstad,” family and friends said in a statement through an aid organization.
“But the support and sympathy we have received from many do us good and are heartwarming.”
An investigation into the slayings remains ongoing.
News
OGTV broadcaster: Police recover stolen Lexus RX300 as CP vows “no stone unturned” in murder probe
Ogun State Police Command says it has recovered the Lexus RX300 stolen from the home of slain ex-OGTV broadcaster Mrs Kitan Oyesiku and her security guard in Iyana Agodo Village, Owode-Egba.
The recovery happened during night operations, the command confirmed Monday.
—CP walks the scene himself—
Commissioner of Police Bode Ojajuni visited the crime scene for an on-the-spot assessment. He inspected the premises and got briefings from detectives handling the case.
“CP Ojajuni reiterated the Command’s resolve to leave no stone unturned in unraveling the circumstances surrounding the incident and ensuring that those responsible are identified, apprehended, and brought to justice,” Police PPRO Oluseyi Babaseyi said in a statement.
The visit, according to police, was to evaluate progress in the investigation into the double murder that has rattled the Owode-Egba community.
—What happened that night—
PUNCH Online had reported that a resident raised the alarm over suspicious movements around Oyesiku’s residence. When operatives arrived, they found signs of forced entry.
Inside, the security guard was found dead at his post. Oyesiku’s body was later discovered inside the apartment. Her Lexus RX300 was missing.
Police now say the vehicle has been secured and will serve as key evidence. “It is worthy of note that the vehicle earlier reported missing from the residence, a Lexus RX300, has been recovered by police operatives during the night hours,” Babaseyi confirmed.
—“Intensive investigation ongoing”–
Ojajuni commiserated with Oyesiku’s family and assured Ogun residents that “all available resources are being deployed to track down the perpetrators.”
For now, no arrests have been announced. But with the car recovered and the CP personally monitoring the case, police say they’re closing in.
Oyesiku, a retired broadcaster with Ogun State Television, was remembered by colleagues as a calm voice on air. Her death, alongside her guard’s, has renewed calls for better security for elderly residents living alone in semi-urban areas. [The Punch report rewritten]
News
Tinubu set to Flag-Off Construction of Service Carriageways of the Southern Parkway, from Arterial Road S20 (Oladipo Diya way) to Ring Road II, today
President Tinubu Will Flag-Off Construction of Service Carriageways of the Southern Parkway, from Arterial Road S20 (Oladipo Diya way) to Ring Road II and Collector Road CO1 from Nile University area to Ring Road III (Extension of Body of Benchers road) Today
#FCTRenewedHope
#FCTProjectsCommissioning
Teenage girl allegedly stabbed parents to de@th, stabbed family dog, sent crime scene photos to friends
SEE Dollar to Naira exchange rate today, June 23, 2026
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