Nigeria: Dangote Refinery Seeks $1b in Private Debt Sale

Dangote Petroleum Refinery is seeking to raise as much as $1 billion through a private debt sale to foreign investors as it expands production and funding plans.

The refinery, owned by Aliko Dangote’s group, is Africa’s largest crude-processing facility. It has an official capacity of 650,000 barrels per day but has recorded test runs of about 700,000 barrels per day.

The plant produces petrol, diesel and jet fuel for Nigeria and exports to markets across Africa, Europe, the US and Saudi Arabia….