- Afreximbank has signed a loan financing of $ 1.35 billion for Dangote Industries Limited (DIL) as part of a larger syndicated credit plan of $ 4 billion.
- Syndication of one of the largest loans in recent African financial markets aimed at the refinancing construction of the Dangote Petroleum Refinery and Petrochemicals complex.
- Dangote Refinery is the largest refinery of one train in the world with a capacity of 650,000 barrels per day.
The African Export-Import Bank (Afreximbank) has signed a loan financing of $ 1.35 billion for Dangote Industries Limited (DIL) as part of a larger $ 4 billion syndicated credit plan that is protected by one of the largest industrial conglomate in Africa.
In a market update, Afreximbank said it acted as the compulsory leader, for the syndication of one of the largest syndicated loans in recent African financial markets that want to refinance the construction of the Dangote Petroleum Refinery and Petrochemicals complex.
This investment is the largest refinery of one train in the world with a capacity of 650,000 barrels per day. According to Afreximbank, the financing relieves initial operational expenditure and improves DIL’s balance, to support the continuous growth.
In the deal, Afreximbank contributed $ 1.35 billion, the largest share among the participating banks, the underline of its dedication to large-scale infrastructure that promotes the industrialization, energy security and Intra African trade of Africa.
The development of Afreximbank Back in Africa
Since the activities in the refining complex started in February 2024, Afreximbank has continued to support the Dangote refinery by offering important financing solutions – for raw delivery and product decrease – which fulfill continuously operations and strengthens its role in the most important Raffinage intervention of Africa.
Commentary on development, professor Benedict Oramaah, president and chairman of the board of directors of Afrexi bankSaid: “With this milestone deal we again show that the development of Africa can only be financed meaningfully from the inside.”
He added: “It is only when African institutions are the way in which others can follow. The journey to use African means for his own economic transformation is well underway. Through the bank’s financing support, we improve the capacity of the Dangote Refinery and Petrochemical Industries Ltd to produce and deliver the Nigerian.
Alhaji Aliko Dangote, President and Chief Executive, Dangote Industries Limited, stated “The contribution of Afreximbank to this milestone pale financing underlined our shared vision of industrializing Africa from the inside. This refinancing and accelerates the high -quality Petroleum products.
The syndicated facility attracted strong participation in leading African and international financial institutions, as a result of continuing trust in the industrial potential of Africa and the vision of Dangote in transforming Africa ”.
The Dangote Petroleum Refinery and Petrochemicals Complex – Important Statistics
Located in Lekki Port, in Nigeria, the Dangote Petroleum and Petrochemicals Complex distinguishes itself for its scale, innovation and transformative potential. Below are some of the most striking aspects: –
The world’s largest refinery with one train: With a capacity to process 650,000 barrels of crude oil per day, this is the largest refinery with one train worldwide, thereby surpassing the combined output of the existing refining frastructure of Nigeria and is able to meet the full refined product demand of the country, with surplus for export.
Solid scale and infrastructure: The project comprises approximately 2,635 hectares. Discharged data show that the complex has 250,000 posts required drilled for civil works and has a storage capacity of 4.7 billion liters with 177 tanks.
The pipeline infrastructure, which currently stretches 1,100 kilometers, is the largest worldwide and uses three billion standard cubic foot gas every day.
High Nelson Complexity Index: With a Nelson Complexity index of 10.5, higher than the US (9.5) and Europe (6.5) averages, the refinery has advanced processes such as hydrocracking, remaining liquid catalytic cracking (RFCC) and alkyling to maximize value by crude oil, that fuel and Petto-chemal, which fuel and Petto-chemal, which fuel and Petto-chemal, which fuel and Petto-Chemal, which fuel and Petto-chemal, which fuel and Petto-chemal, which fuel and Petto-Chemaliën.
Various product output: The Refinery produces 50 Million Liters or Euro-V Gasoline, 17 Million Liters or Diesel, 10 Million Liters of Kerosene, and Two Million Liters of Aviation Fuel per day, Alongide 838000 Tonnes or Polypropylene, 0.24 Million Tonnes Million Tonnes or Carbon Black Annually, Supporting Plastics, Cosmetics, and Textiles Industries.
Environment and quality standards: Designed to comply with the World Bank, the American EPA, European emission standards and the Nigeria Department of Petroleum Resources Standards, the Refinery Euro-V-quality fuels produces, causing a low sulfur content and compliance with the environment, the sustainability of the environment.
Self -sufficient infrastructure: It has a 435 MW energy plant that is able to feed the entire refinery and equivalent to the needs of Ibadan Disco, a self-sufficient marine facility with five multi-systems with one point (the largest such order worldwide), and a 12.3 km scaffolding to process heavy equipment and to reduce the portion.
Economic impact and creating jobs: The $ 19 billion project is expected to generate $ 21 billion annually for Nigerian crude oil, saves $ 9.9 billion in Forex through import replacement and earning $ 17 billion with exports. It creates 9,500 direct and 25,000 indirect jobs, with potential for a maximum of 100,000 indirect jobs via retail and related sectors.
Integration of fertilizers plant: Contains a urea manure factory of three million a year, the largest in West Africa, using by-products from refineries to support agriculture, and saving around $ 0.5 billion in import and earning the country $ 0.4 billion in exports.
Global rough flexibility: Designed to process a variety of Crudes, including African, Central and American Light Tight Oil, this improves the operational flexibility of the refinery and reduces its dependence on a single rough source, making it a strategic advantage in the light of volatile global oil markets.
Development of human capital: It has already seen the training of 900 young Nigerian engineers abroad, which promotes local expertise. The technical excellence of the project has been praised, with Nigerian engineers now working as expatrates in the VAE and elsewhere.
Strategic leadership and expansion plans: In July 2025, David Bird, former CEO of the DUQM refinery of Oman, was appointed CEO of the Fuels and Petrochemicals Division to tackle operational challenges and to bring extension to 700,000 barrels a day, with plans for upgrades and storage facilities as Namibia.
Export performance: By July 2025, the refinery exported a million tonnes of gasoline to the world markets for 50 days, reducing the dependence on Nigeria’s gasoline posts and pressure on global oil benchmarks, with 220,000 barrels of petroleum products that were exported in July 2025, including aircraft fuel and Gaspanaal.
Also read: Dangote sails ahead with the largest seaport in Nigeria in Olokola
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