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Dangote bids for Shell Nigeria’s asset

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Dangote bids for Shell Nigeria’s asset

by Dare Lawal

Aliko Dangote is set to further cement his place as one of Africa’s shrewdest investors with plans to acquire a stake in a Nigerian gas field owned by Anglo-Dutch multinational energy giant Shell.

According to a report by Africa Intelligence, Dangote Industries which is owned by Africa’s richest man submitted the highest bid for Shell’s stake in Oil Mining Lease (OML) 18 at an auction organised last year in the Niger Delta region.

Dangote who plans to build a $9 billion private oil refinery in Ondo state, also owns minority stakes in a handful of oil exploration concerns, including a 9% stake in block 1 in the Joint Development Zone between Nigeria and Sao Tome, where Chevron is the operator. He also owns a 10% stake of block 3 in the JDZ.

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