Nigerian billionaire Aliko Dangote keen to launch construction of Lekki refinery valued at USD 19 billion
The powerful African businessman, the Nigerian Aliko Dangote, is keen to start the construction of his mega refinery Lekki at a total cost of 19 billion US dollars.
According to Reuters information, Africa’s first richest man, Aliko Dangote, has started talks with some of the world’s largest oil traders to raise a loan to finance the construction of her. mega oil refinery located in Lekki.
The same source indicates that the Dangote Group, which is carrying the project, needs a significant injection of liquidity due to the economic impacts of the coronavirus pandemic and the soaring costs of materials.
Among the traders in talks with billionaire Aliko Dangote include the executives of Trafigura and Vitol, two of the world’s largest oil traders.
This refinery has benefited from the support of the state oil company of Nigeria (NNPC) which notably agreed to buy 20% shares for an amount of 2.7 billion dollars.
Despite the presence of the NMPC, the businessman is always on the lookout for outside contributions.
According to sources close to this group, it would seem that the possibility of raising an additional $ 500 million from a trading house or consortium is being actively explored.
The commissioning of the Lekki refinery will enable Nigeria to increase its oil production by an additional 650,000 barrels per day.
With the construction of this mega refinery, the country will own the largest factory on the continent and at the same time redesign the main trade flows of crude and fuel in the Atlantic basin.
