The Afreximbank Bank has underwritten $2.5 billion of a $4 billion senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals FZE. Marking one of Africa’s biggest energy financing deals in recent years.
Also, The facility, arranged alongside Access Bank as co-lead arranger, structured as a five-year loan aimed at strengthening the refinery’s financial position and supporting its next phase of growth.
Strengthening Africa’s Largest Refinery
However, The funding will help consolidate existing debt, optimise the refinery’s capital structure, and align financing with its operational stage.
Owned by Aliko Dangote, the refinery is the largest in Africa, with a capacity of about 650,000 barrels per day. It plays a key role in reducing Africa’s dependence on imported refined fuel while boosting local production and exports.
Afreximbank’s $2.5 billion contribution represents the largest share in the syndicate. Highlighting its leading role in mobilising capital for major industrial projects across the continent.
Boost for Energy Security and Trade
The deal expected to enhance energy security in Africa by supporting a steady supply of refined petroleum products across the region. It also aligns with Afreximbank’s broader goal of promoting intra-African trade and industrialisation.
As global fuel markets remain volatile, the Dangote refinery increasingly seen as a strategic asset capable of stabilising supply and reducing import costs for African nations.
A Major Step for Africa’s Industrial Growth
Analysts say the financing signals growing confidence in Africa’s ability to fund large-scale infrastructure projects internally.
With expansion plans already in view, the refinery is positioned to become a global energy hub. Reinforcing Nigeria’s influence in the oil and gas sector while reshaping Africa’s industrial landscape.
