The Central Bank of Nigeria (CBN) says it helping Dangote Group with $11 billion for its Refinery and Petrochemical plant, that is about N125 billion as at the end of 2018 as it announced the start-up of the three million tons capacity fertiliser plant in April this year.

While speaking at the end of a four-hour tour of the 650,000 barrels per day capacity refinery located in Lagos, CBN Governor Godwin Emefiele said the bank had supported the refinery which is expected to come on-stream in the first quarter of 2020 with N75 billion and the fertilizer plant with N50 billion as part of the Federal Government’s efforts in diversifying the nation’s economy.

The project is being funded by about 60 per cent of Dangote’s equity and 40 per cent by both local and foreign banks and CBN chipped in N75 billion for the refinery and N50 billion for the fertilizer plants.


https://seriousmata.com/2019/01/21/dangote-refinery-to-open-q1-2020-cbn-supports-with-n125b/