Nigeria - Dangote Industries Limited - (Refinery and the fertilizer projects)

This operation is a loan of USD 300 million to Dangote Industries Limited (DIL) for the construction and operation of a new greenfield crude oil refinery and a greenfield fertilizer manufacturing plant. The Dangote Group was established in the late 1970s and started with importing sugar, milk, flour, fish, rice, cement and iron rods. The Group is now a diversified conglomerate with business interests in cement, sugar, salt, port operations, packaging material production and real estate. This project, which has a great potential for transformation, is aligned with the Ten-Year Strategy. In particular, it will complement the bank’s ongoing effort to support the federal government for the implementation of the Agriculture Transformation Agenda (ATA). This project demonstrates the role that the Bank should play in supporting the emergence of African entrepreneurship.