Africa's Richest Man, AlikoDangote May Forfeit Refinery Project To Nigerian Debt Recovery Agency Over Rising Debts, Long Delay | Sahara Reporters
Dangote Oil Refinery, which is reputed to be Africa’s biggest oil refinery, may soon run into a deep financial crisis as a result of a $7 billion debt burden – a situation which indicates a possible takeover of the project by the Assets Management Corporation of Nigeria .Dangote Refinery is an oil refinery owned by the Dangote Group that is under construction in Lekki, Nigeria.
Dangote Group is a Nigerian multinational industrial conglomerate, founded by Aliko Dangote, Africa's richest man. According to an analysis by the Money Management Series, Dangote Oil Refinery, a 650,000-barrel per day integrated refinery project under construction in the Lekki Free Zone, Lagos, Nigeria, was expected to commence production in 2016 with $3.3 billion financing secured in 2013.
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