Aliko Dangote Received $997,4 Million For His Oil Refining Company
Aliko Dangote, is currently Africa’s richest man, but you may also know him from news regarding his intention of buying Arsenal FC! Well, this Nigerian oil tycoon has recently received a $997,4 million for his Oil Refining Company, in training grant from the US Trade and Development Agency. This program aims at increasing Nigeria’s domestic oil refining capacity, and continues the USTDA’s legacy of supporting vital infrastructure development in the country.
This humongous grant will be used to fund a program that will offer training to more than 100 people from the company on refinery-related fundamentals, as part of a US advocacy campaign.
Dangote Oil Refining Company Ltd, which is located in Lekki, Lagos, signed a loan agreement with local and international banks for around $3,3 billion, in order to construct the largest and most advanced Petroleum Oil Refinery and Petrochemical Fertilizer Plant in the country. A total sum of around $11 billion has already been invested in this project, which will be completed by 2017!