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.
Nigeria–South Africa relations energy conglomerate based in Lagos had recently been listed on the Johannesburg Stock Exchange and the Nigeria-based Dangote Group had invested a record $378 million in South Africa's cement industry. In 2008, approximately $2.1 billion was traded between the two states. By 2012 total bilateral trade had increased to $3.6 billion. In 2012 83% of trade was taken up by South African imports of Nigerian crude oil. Between 2002 and 2012 South African imports from Nigeria have increased by 750% (mostly increases in oil imports) whilst Nigerian imports from South Africa have increased by 130%. The Nigeria - South Africa