Posts by category: Business

Debunking the Misconception: NNPC's Acquisition of Stake in Dangote Refinery Clarified
Jul, 26 2024

Debunking the Misconception: NNPC's Acquisition of Stake in Dangote Refinery Clarified

Tyler Brandeis
0
A recent claim alleging that NNPC Ltd borrowed $1.03 billion from the IMF to acquire a stake in the Dangote Refinery has been debunked. This article provides a detailed fact-check and explanation regarding the actual funding sources involved in the acquisition.
Dangote Group Withdraws from Nigerian Steel Investment Amid Monopoly Concerns
Jul, 22 2024

Dangote Group Withdraws from Nigerian Steel Investment Amid Monopoly Concerns

Tyler Brandeis
0
Aliko Dangote's Dangote Group has decided to abandon its plans to invest in Nigeria's steel industry to stave off monopoly accusations. This move is aimed at preventing dominance claims while encouraging local investment to boost the economy. Dangote had previously announced his intention to promote local steel production, but now he calls on other Nigerians to step in. Nigeria's steel industry has faced numerous setbacks, including the troubled Ajaokuta steel complex.

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