Dangote Refinery Dangote Refinery The Dangote Refinery is an oil refinery owned by the Dangote Group that is under construction in Lekki, Nigeria. When complete, it will have a capacity to process about 650,000 barrels per day of crude oil. Nigerian businessman Aliko Dangote unveiled early plans for the refinery in September 2013, when he announced that he had secured about $3.3 billion in financing for the project. At the time, the refinery was estimated to cost about $9 billion, of which $3 billion would be invested by the Dangote Group and the remainder via commercial loans, and begin production in 2016.
Dangote Group in Africa. Current interests include cement, sugar, flour, salt, pasta, beverages and real estate, with new projects in development in oil and natural gas, telecommunications, fertilizer and steel. Competitors in both Nigeria and other portions of Africa include Stallion Group. Adenike Fajemirokun is the chief risk officer. Dangote Cement, the largest cement production company in Africa, with a market capitalization of almost US$14 billion on the Nigeria Stock Exchange, has subsidiaries in Benin, Cameroon, Ghana, Nigeria, South Africa and Zambia. In December 2010, the group signed an agreement with the Government of Zambia to construct a US$400 million cement plant