Governor of Central Bank of Nigeria (CBN) Godwin Emefiele, has said that the Dangote Group has paid back about 70 percent of the loans it took to construct its mega 650,000 bpd refinery in Lagos
Emefiele disclosed this on Monday during the ceremony to commission the refinery.
The Dangote Group has paid down its total loans outstanding on this Refinery project from $ 9 billion to $ 2.7 billion today.
Dangote refinery is described as Africa’s biggest refinery and among the six biggest in the world.
The project is expected to churn out Premium Motor Spirit (PMS), diesel (AGO), aviation jet fuel and Dual-Purpose Kerosene (DPK), and other refined products.