By The Bureau News | Nigeria News Today
In a major financial milestone, the African Export-Import Bank (Afreximbank) has signed a $1.35 billion loan agreement to support Dangote Industries Limited (DIL) as part of a $4 billion syndicated facility aimed at refinancing the Dangote Refinery project.
The announcement, made on August 4, 2025, reaffirms Africa’s ability to mobilize internal financing for transformative projects. The syndicated loan ranks among the largest in African financial history, targeting the Dangote Petroleum Refinery and Petrochemicals Complex — the largest single-train refinery in the world with a capacity of 650,000 barrels per day.
“With this landmark deal, we once again demonstrate that Africa’s development can only be meaningfully financed from within,”
— Professor Benedict Oramah, President of Afreximbank
The facility is expected to ease operational expenditures and boost DIL’s balance sheet as the company scales its footprint in Nigeria and across the continent.
Since the refinery began operations in February 2024, Afreximbank has provided crucial financing solutions to support both crude supply and refined product distribution. This continued partnership underscores Afreximbank’s long-standing commitment to Africa’s industrialization, energy security, and intra-African trade.
“This refinancing strengthens our balance sheet and accelerates the refinery’s supply of high-quality refined petroleum products across Africa,”
— Alhaji Aliko Dangote, President of Dangote Industries Limited
The Bureau News reports that Afreximbank’s $1.35 billion share represents the largest contribution among participating institutions. The deal attracted top-tier African and international banks, signaling strong investor confidence in Africa’s industrial transformation.
A Strategic Win for Africa’s Energy Landscape
The funding will allow Dangote Refinery to continue delivering refined petroleum products to both the Nigerian market and international buyers, reducing Africa’s dependence on imported fuel.
Professor Oramah added that the support from Afreximbank highlights a shift toward self-reliance in Africa’s economic transformation, reinforcing the continent’s drive for energy sovereignty and sustainable growth.
This news further aligns with Nigeria News Today’s ongoing coverage of strategic national developments and the push for a stronger, independent African economy.
