LAGOS, Nigeria (AP) — Africa's richest man says his company has received a $3.3 billion loan to build Nigeria's biggest oil refinery and petrochemical and fertilizer complex.
Aliko Dangote, president of Dangote Group, said the project, expected to be completed in 2016, will lower Africa's dependence on the international market. Nigeria is Africa's biggest oil producer but has to import most of its fuel as it lacks refining capacity. He spoke Wednesday at the signing of the loan from 12 Nigerian and international banks.
Dangote Group says it is still seeking an additional $2.5 billion in development funds to augment the $3.5 billion of its own equity put into the $9 billion project.
The refinery will be built in Nigeria's southwest.
Nigeria is a top supplier of crude to the United States.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
An airman from Niagara Falls was away training for the Air Force for months. After being apart from his family, he decided to surprise them at Kelly’s Country Store in Grand Island.
A Buffalo city jail cell block attendant was arrested early Saturday morning on multiple animal cruelty charges.
Family and friends created a memorial for James complete with notes and candles.
Detectives say Brandon Cahee, 28, was found in an upper apartment of a home on Ericson Avenue, and he had been shot.
It's been one month since Typhoon Haiyan barreled through the Philippines, leveling towns and killing nearly 6,000 people.
Rookie Mike Glennon rebounded from one of his worst performances of the season to throw two touchdown passes and lead the Tampa Bay Buccaneers a 27-6 victory over the struggling Buffalo Bills on Sunday.