Nigerian banks and their foreign counterparts committed a combined $17 billion dollars investment in the Dangote Refinery, Fertilizer Plant and Petrochemical Company projects.
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, announced on Friday that the Nigerian banks and their foreign counterpart invested between $9 billion and $10 billion respectively.
Speaking during an assessment tour of the company in Ibeju-Lekki, Lagos, the CBN boss said Dangote Industries contributed the rest as its own equity and capital.
“So, we are talking about close to $9 billion to $10 billion contributed by the banks while the Dangote Industries contributed the rest as its own equity and capital into this project,” he said.
He said Nigeria will save over $3 billion annually from imports due to the operation of the company.
He listed the local banks involved in the funding as Access Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, First Bank of Nigeria Limited and Guaranty Trust Bank Plc.
