NNPC to acquire a 20% stake in Dangote's oil refinery for c.$3.8bn.

Nigerian National Petroleum, a state-owned oil corporation, agreed to acquire a 20% stake in a Lagos oil refinery from Dangote, a Nigerian multinational industrial conglomerate, for c$3.8bn. NNPC still needed cabinet approval for the plan, but said the value of having a stake in what would be the largest oil refinery in Africa was worth the cost.