Why Dangote Refinery IPO is successful — Petroleum minister
The Minister of State for Petroleum, Heineken Lokpobiri, says the success of the Dangote Refinery IPO is due to the FG’s deregulation of the petroleum sect Read More: https://punchng.com/why-dangote-refinery-ipo-is-successful-petroleum-minister/
The successful IPO of the Dangote Petroleum Refinery, Africa's largest, can be attributed to the Federal Government's deregulation of the petroleum sector, according to Petroleum Minister Heineken Lokpobiri. Speaking at the National Summit of the Forum of Former Presiding Officers of State Houses of Assembly of Nigeria, Lokpobiri stated that deregulation has enabled private-sector participation and turned NNPC into a shareholder in the refinery.
He also highlighted the absence of fuel queues since 2023 as a result of the reforms, and emphasized that the petroleum sector reforms are contributing about 85 percent of Nigeria's foreign exchange earnings.
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