Thursday, 19 July 2007

Nigeria tycoon pulls out of refineries deal - reports

(Reuters) - A consortium led by Nigerian tycoon Aliko Dangote, a major financier of the ruling party, has pulled out of a deal to take over two refineries, including the country's biggest, newspapers reported on Thursday.

Bluestar had bought controlling stakes in the Port Harcourt and Kaduna refineries in the last days of the administration of President Olusegun Obasanjo, prompting accusations of cronyism because Dangote was a beneficiary of other privatisations.


Read more at Reuters Africa

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