₦airaland Forum

By The Bureau News

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 Bureau News reports.

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.

Source: https://thebureau.com.ng/afreximbank-dangote-refinery-financing-nigeria-news-today/

I.35 billion with a B.
I could use such sum right about now

That's more than 1.8 trillion Naira. Is this for expansion or what?

We are seeing doings from Professor Okey Oramah. He's supporting both businesses and states across Nigeria.

We are seeing doings from Mr. Akin Adesina. He's constructing international highways connecting Nigeria and the rest of Africa. Mr. Adesina has given many Nigerians jobs at AfDB.

Sincerely, I don't know what's happening with Madam Ngozi Okonjo-Iweala. When will that woman start supporting Nigerian businesses or even give Nigerians jobs at WTO? We don't even see their openings online.

This is just the difference between men holding key positions and women doing the same.

Instead of then to offer that money for ownership stake. They are offering it for loan. Nigeria billionaires are notorious debtors.

2mch:
Instead of then to offer that money for ownership stake. They are offering it for loan. Nigeria billionaires are notorious debtors.

Smh. You think Afreximbank is like your regular commercial bank. Smh.

Afreximbank would come in first with cash and then upscale to equity same way they are about to do in Oando Plc. AFC did same in Geregu Plc.

FreeStuffsNG:
Smh. You think Afreximbank is like your regular commercial bank. Smh.

Afreximbank would come in first with cash and then upscale to equity same way they are about to do in Oando Plc. AFC did same in Geregu Plc.

Those guys are sleeky 😁

They don't support or invest in projects that are in execution phase.

All corporations are thieves.

SmartPolician:
We are seeing doings from Professor Okey Oramah. He's supporting both businesses and states across Nigeria.

We are seeing doings from Mr. Akin Adesina. He's constructing international highways connecting Nigeria and the rest of Africa. Mr. Adesina has given many Nigerians jobs at AfDB.

Sincerely, I don't know what's happening with Madam Ngozi Okonjo-Iweala. When will that woman start supporting Nigerian businesses or even give Nigerians jobs at WTO? We don't even see their openings online.

This is just the difference between men holding key positions and women doing the same.

C'mon this is not a fair comparison their mandates & budgets are worlds apart.

lionshare:
C'mon this is not a fair comparison their mandates & budgets are worlds apart.

Do you want to start something you cannot defend? Would you like to buttress the point you raised with facts and figures?

SmartPolician:
Do you want to start something you cannot defend? Would you like to buttress the point you raised with facts and figures?

Here you go:

AFDB
Mandate: Promote Africa’s economic and social development through investment.
Motive: Reduce poverty and improve living standards in Africa.
Total Assets: $318B

WTO
Mandate: Facilitate and regulate international trade among members.
Motive: Ensure fair, stable, and predictable global trade.
Budget: 2024 FY $239M

Afrexim
Mandate: Finance and promote intra- and extra-African trade.
Motive: Support Africa’s economic growth through trade finance.
Net Income: $973.5 million
Total Assets: $40B

I hope this clarifies that the WTO, like Nigeria’s Ministry of Trade, focuses on trade policies and regulations—not on project financing or generating financial returns.

lionshare:
Here you go:

AFDB
Mandate: Promote Africa’s economic and social development through investment.
Motive: Reduce poverty and improve living standards in Africa.
Total Assets: $318B

WTO
Mandate: Facilitate and regulate international trade among members.
Motive: Ensure fair, stable, and predictable global trade.
Budget: 2024 FY $239M

Afrexim
Mandate: Finance and promote intra- and extra-African trade.
Motive: Support Africa’s economic growth through trade finance.
Net Income: $973.5 million
Total Assets: $40B

I hope this clarifies that the WTO, like Nigeria’s Ministry of Trade, focuses on trade policies and regulations—not on project financing or generating financial returns.

And how do you explain that no Nigerians don't get jobs there like other sister institutions?

SmartPolician:
And how do you explain that no Nigerians don't get jobs there like other sister institutions?

I doubt your claim is true.