By Muhammad Mamman
The African Export-Import Bank (Afreximbank) has announced it is underwriting $2.5bn of a $4bn senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals FZE, marking one of the largest financing deals in Africa’s energy sector.
The funding will support the operations and expansion of the Dangote refinery complex, a project widely seen as pivotal to reducing Africa’s reliance on imported refined petroleum products.
A syndicated term loan involves multiple lenders pooling resources to finance a single borrower under one agreement, typically arranged by a lead bank. Afreximbank’s participation signals strong institutional backing for the refinery, which is expected to reshape fuel supply dynamics across Nigeria and the wider continent.
The deal underscores growing efforts by African financial institutions to support large-scale infrastructure projects aimed at strengthening regional energy security and industrial capacity.
