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The total loss from almost 23 billion is over twice very first forecasts. Dangote blames the state-possessed Nigerian Federal Oils Business (otherwise NNPC), which oversaw Nigeria’s electricity subsidy and and therefore each other produces crude and you will carries delicate gasoline issues. 1st, the newest NNPC wanted to and get an excellent 20percent risk inside Dangote’s refinery that have an initial fee out of 1 billion, but after trimmed the risk to in the 7percent and you can necessary a few of its cash return.
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