Nigeria Multi-billionaire Aliko Dangote Considering to Purchase Nigerian Oil Fields

Dangote Group, controlled by Africa’s richest man Aliko Dangote, is considering the purchase of Nigerian oil fields as international companies plan to sell onshore assets in the continent’s top crude producer. Dangote Group is considering the purchase of Nigerian oil fields as international companies plan to sell onshore assets in the continent’s top crude producer.

The company, controlled by multi-billionaire Aliko Dangote, needs to secure a supply of crude oil and a “substantial amount of gas” for a $9 billion oil refinery and petrochemical complex it plans in southwest Nigeria.
The company also needs energy for its cement plants in Africa’s second-largest economy. According to the information gathered, the company has started talking with some companies who are divesting from onshore. International oil and gas explorers including Royal Dutch Shell and San Ramon, California-based Chevron are selling onshore and shallow-water fields in Nigeria amid persistent violence and crude theft in the oil-rich Niger River Delta, with smaller Nigerian companies taking their place. Dangote Group believes it can manage unrest and aggrieved communities in the region with corporate social initiatives.