Afrexim lends Nigerian refinery $650 mln
Nigeria The loan has a term of seven years with a moratorium period of five years, Reuters reported.
The Dangote refinery is set to be completed in December 2019, Dangote Group executive director Devakumar Edwin said last week.
The plant’s expected processing capacity of up to 650,000 bpd is more than the current combined 445,000-bpd capacity of Nigeria’s four state-owned refineries. Although Nigeria is one of Africa’s top producers of crude oil, it imports nearly 80% of its refined fuel needs.
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