Nigeria: Afreximbank loan for Dangote refinery
Issue 374
- 27 Jul 2018
| 1 minute read
Nigerian billionaire Aliko Dangote signed a $650m loan facility with the African Export-Import Bank (Afreximbank) on 14 July for his $6.5bn oil refinery project. The signing took place in Abuja during the Cairo-based bank’s annual meetings. The 650,000 b/d Dangote refinery is under construction in the Lekki Free Trade Zone in Lagos State, with start-up due in 2019. The project aims to end Nigeria’s long-standing fuel supply problems, halting dependence on imports and supplying regional markets.
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