Dantata, 3 other oil billionaires et to get richer after securing lucrative NNPC contracts

Four Nigerian billionaires are set to reap substantial financial rewards after their companies secured multi-billion contracts from the Nigerian National Petroleum Company Limited (NNPC).

The companies are Oilserv Limited, A.A RANO Nigeria Limited, Macready Oil & Gas Service Company Limited, and MRS Oil Nigeria.

These contracts, awarded through the build, operate, and transfer (BOT) financing model, are designed to facilitate crude supply to the refineries and efficient product evacuation from them.

The companies are also to maintain and rehabilitate the vast pipeline network across the country.

BusinessDay reports The pipeline network encompasses4,315 kilometers of multi-product pipelines and 701 kilometers of crude oil pipelines.

It also interconnects 22 fuel depots, Nigeria's four refineries, and the crucial jetties at Atlas Cove and Warri.

The breakdown of the contracts awarded to the four companies is as follows:

Oilserv Limited Oilserv Limited, owned by Engr. Dr. Emeka Okwuosa was awarded LOT 1, including the Bonny-Port Harcourt Crude Oil pipeline, Port Harcourt-Aba-Enugu Products Pipeline, and more.

A.A RANO

Alhaji Auwalu Abdullahi Rano company was awarded LOT 2, which comprises the Escravos-Warri Crude Oil Pipeline, Warri-Benin Products Pipeline, and others.

Macready

Macready Oil & Gas a brain child of Olu Fagbemi will be in charge of LOT 3, covering the Warri-Kaduna Crude Oil Pipeline, Kaduna-Kano Products Pipeline.

MRS Oil Nigeria Plc

MRS Oil Nigeria, founded in 1995 by Alhaji Sayyu Dantata secured LOT 4, involving the Atlas Cove-Mosimi/Satellite Products Pipeline, Mosimi-Ore Products Pipeline, and others.

Industry players have raised concerns about MRS and Rano selection by the NNPC limited arguing that retailers do not have a relationship with pipeline contracts.