• Mon. May 29th, 2023

Emefiele says Dangote Repays 70% Loan for Refinery Construction

ByJustice Godfrey Okamgba

May 22, 2023

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, announced that the Dangote Group has successfully repaid approximately 70% of the loans it obtained to build its massive 650,000 bpd refinery in Lagos.

Emefiele shared this update during the refinery’s commissioning ceremony on Monday, highlighting the amount paid back by the Dangote Group.

“To date, the Dangote Group has significantly reduced its outstanding loans for this refinery project from $9 billion to $2.7 billion,” Emefiele revealed.

He further emphasized that this achievement reflects the Dangote Group’s commendable creditworthiness.

The Dangote refinery is recognized as Africa’s largest refinery and ranks among the top six globally.


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