Dangote Refinery gets $10bn investment from banks


The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, last week Friday disclosed that Nigerian banks and their foreign counterparts has invested between $9 billion and $10 billion in the Dangote Refinery, Fertilizer Plant and Petrochemical Company projects worth $17 billion.

Speaking during an assessment tour of the company in Ibeju-Lekki, Lagos, Emefiele said Dangote Industries contributed the rest as its own equity and capital.

Emefiele said he was happy that one of the projects that were nurtured together with the bankers during his seven years at the apex bank is coming out successful.

He listed the local banks involved in the funding as Access Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, First Bank of Nigeria Limited and Guaranty Trust Bank Plc.

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