Afreximbank, alongside Access Bank, was appointed co-Mandated Lead Arranger for the five-year facility, which aims to consolidate existing financing, optimize DPRP’s capital structure, and align resources with the operational status of Africa’s largest refinery. The refinery, with a production capacity of 650,000 barrels per day, supplies refined petroleum products across the continent and to global markets.

Speaking during a strategic session between Afreximbank’s Board of Directors and Dangote Group leadership in Cairo, Egypt, Dr. George Elombi, President and Chairman of Afreximbank, said: "We take immense pride in being the single largest provider of financing to the Dangote Group. When we invest in ourselves, we do more than create jobs and wealth; we build a secure and resilient future for our continent.” Dr. Elombi added that Afreximbank has invested approximately US$15 billion in the Dangote Group since 2015, reinforcing African industrial capacity.

On the ground, local analysts highlighted the significance of the financing. Financial consultant Okafor Chidera told Diplomat News Network: "This loan not only stabilizes DPRP’s balance sheet but also signals confidence in Africa’s industrialization agenda. Investors see tangible returns in a sector that has historically relied on imports.”

Since commencing operations in February 2024, the refinery has benefited from Afreximbank’s US$1 billion working capital facility and the Naira-for-Crude initiative, which enables crude oil purchases and refined product sales in local currency. 

Mr. Aliko Dangote, President and Chief Executive of Dangote Industries Limited, said: "This financing marks an important step in strengthening the financial foundation of Dangote Petroleum Refinery & Petrochemicals and positions the business for the next phase of its growth.”

The syndicated term loan attracted significant interest from both African and international financial institutions, reflecting confidence in the refinery as a transformative industrial asset. Observers noted that Afreximbank’s leadership role underscores the bank’s strategy of advancing import substitution, promoting intra-African trade in refined products, and enhancing energy security.

Industry experts emphasize the broader implications of the transaction. Energy analyst Ibe explained: "Beyond expanding refining capacity, this facility strengthens Africa’s energy independence, reduces reliance on imports, and opens new channels for intra-continental trade.”

Afreximbank’s participation also demonstrates the institution’s ongoing commitment to supporting indigenous industrial projects.