Who owns the biggest refinery in Nigeria?

the Dangote Group
The Dangote Refinery is an oil refinery owned by the Dangote Group that is under construction in Lekki, Nigeria. When complete, it will have the capacity to process about 650,000 barrels per day of crude oil, making it the largest single-train refinery in the world.

Who is funding Dangote Refinery?

The Dangote oil refinery is being funded with $3bn equity and $6bn loan capital. A consortium of local and international banks led by the Standard Chartered Bank provided a $3.3bn loan facility.

How much does Dangote Refinery cost?

The refinery, being built at a cost of $19 billion in Lagos, has 4.74 billion litres storage capacity, Edwin said.

How much does it cost to build a refinery?

The capital outlay for any 100,000-barrel per day (bpd) refinery is about $1.5 billion or more, while a 24,000 bpd modular refinery is roughly $250 million.

How much does it cost to build oil refinery in Nigeria?

Dangote Refinery Complex in Nigeria Set to Cost $19 Billion – Bloomberg.

Which Bank does Dangote use?

Dangote Group, the West African conglomerate founded by Africa’s richest man, Aliko Dangote, has signed a $650 million loan facility with the African Export-Import Bank (Afreximbank) to enable him complete the $10 billion oil refinery and petrochemical complex he is building in Lekki, Nigeria.

Who owns oil refineries in Nigeria?

the Nigerian National Petroleum Corporation (NNPC)
Petroleum Refineries and Petrochemicals There are currently five (5) refineries in Nigeria; of which four (4) plants are owned by the Nigerian Government through the Nigerian National Petroleum Corporation (NNPC), while the fifth is owned and operated by Niger Delta Petroleum Resources (NDPR).

Who built the refineries in Nigeria?

Shortly after independence, the Shell-BP Petroleum Development Company saw an opportunity to meet the product needs of the country. It embarked on a project to build the first refinery in the country near Port Harcourt. The 38,000 barrels per day (bpsd) Shell-BP Refinery was completed and commissioned in 1965.

Who is the richest person in Lagos State?

Richest People in Lagos, NG

  • $21 Billion. Aliko Dangote Net Worth: Aliko Dangote is a Nigerian businessman who has a net worth of $21 billion. Aliko Dangote has at times been the richest person in Nigeria.
  • Folorunsho Alakija. $2.5 Billion.

How much does it cost to build a modular refinery?

The more you want to refine at a given time the costlier the refinery will be. However, they range from $100m to $200m depending on the specification of what you need. Modular refineries are not cheap as such. It depends on the degree of products you want to produce.

How much does it cost to set up a modular refinery in Nigeria?

The capital outlay for any 100,000-barrel per day (bpd) refinery is about $1.5 billion or more, while a 24,000 bpd modular refinery is roughly $250 million. Convert that to naira and lets see the result.

Who will operate the upcoming Lagos I refinery?

Dangote Oil Refinery will operate the upcoming Lagos I refinery, proposed to be built at Lagos in Nigeria. The integrated refinery will be owned by Dangote Industries and is expected to start operations in 2022. During the period 2021-2025, the Lagos I refinery is expected to witness an estimated capex of $1,200m.

Where is the refinery site in Nigeria?

The refinery site covers an area of 2,635ha on the Lekki Free Zone near the Lekki Lagoon. This location will allow for the transhipment of refined petroleum products to international markets.

What is Africa’s biggest refinery project?

The 650,000bpd Dangote refinery project in Nigeria is Africa’s biggest refinery project to date (Credit: MAN) MAN Diesel & Turbo provides compressor trains for the Dangote refinery.

What is the Dangote oil refinery in Nigeria?

The Nigerian refinery will produce Euro-V quality gasoline, diesel and other petrochemical products. Image courtesy of MAN Diesel & Turbo. Dangote Oil Refinery Company (Dangote) is constructing an integrated refinery and petrochemical complex in the Lekki Free Zone near Lagos, Nigeria.