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Nigerian businessman Aliko Dangote in remarks relayed by Financil Afrilk announced on July 24 that he has mobilized more than $ 4.5 billion through debt financing for his oil refinery project in Nigeria
"We will end up spending $ 12 billion to $ 14 billion. Funding will come from equity, commercial bank loans, export credit agencies and development banks. I hope that we will finish the mechanical construction by next year and that the products will start to come out in the first quarter of 2020, "said Dangote, in statements relayed on July 24, 2018 by Financial Afrik. 19659002] The African Development Bank (AfDB), the World Bank (through its subsidiary, IFC), will invest $ 300 million and $ 150 million respectively in this project which will also benefit from the contribution of $ 3 billion from a banking pool.
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