Country
Nigeria
Sector
Oil & Gas
Intelligence Type
Project
Status / Stage
Under Construction
Estimated Value
USD 350000000
Confidence
Highly Confirmed
Latest Development
Project Details
Project TypeRefinery Expansion
Project OwnerDangote Industries Limited
Main ContractorEngineers India Limited (EIL) — engineering contract
Financing InstitutionAfrican Export-Import Bank (Afreximbank); private placement investors
Start DateOctober 2025 (expansion announced)
Expected Completion2028
Current PhaseFinancing
Funding StatusPartial
Key Issues / Risks
Broader $46bn group-wide figure (covering refining, cement, fertiliser) sometimes conflated with the refinery-specific expansion cost in press coverage.
Latest Development (Detail)
This is the same project as record #3 above (the 1.4 million bpd expansion). A $350 million engineering contract with Engineers India Limited (EIL) is already underway. Consider merging this record with the Dangote Expansion record or cross-linking them to avoid duplication.
Capital & Financing Intelligence
Funding / Amount CommittedUSD 2500000000
Funding SourcePrivate placement (largest publicly disclosed private investment in Africa); Afreximbank committed $2.5bn against $4bn sought
Funding DateJuly 2026
Commercial Opportunity Intelligence
Commercial ReadinessVery Early
Connected Intelligence
Source & Verification Trail
Last VerifiedJuly 2026
Source(s)The Africa Report; Investors King; AllAfrica
Source DateJuly 2026
This project has been fully tracked to completion. Read the complete Project Dossier →