Everything you need to know about AFC’s $2.5bn investment in Dangote Refinery

Nigeria’s Dangote Refinery precocious attracted 1 of the continent’s largest landmark investments.

This comes arsenic the Africa Finance Corporation,AFC led a radical of strategical investors successful a landmark $2.5 cardinal backstage placement by Dangote Petroleum Refinery and Petrochemicals FZE, DPRP, representing a large superior injection into Nigeria’s largest integrated refining and petrochemical project.

DAILY POST, successful this report, outlines each the details of the historical investment.

In a connection by AFC on Thursday, it stated that the transaction, which represents DPRP’s archetypal equity superior rise involving caller investors beyond its bequest ownership, was oversubscribed 3.7 times. This reflects beardown request from planetary and African organization investors, sovereign-related concern vehicles, improvement concern institutions and strategical partners.

The caller superior comes arsenic Dangote Group advances its Vision 2030 program to much than treble the refinery’s nameplate capableness from 650,000 barrels per time to 1.4 cardinal barrels per time by 2028.

The astir $20 cardinal Dangote refinery and petrochemical analyzable is located connected a 2,500-hectare tract successful Lagos and is designed to process 650,000 barrels of crude lipid regular into petrol, diesel,...