Nigerian business tycoon Aliko Dangote is seeking to raise billions of dollars to step up production at his $20bn oil refinery on the outskirts of Lagos.
The industrialist is in talks with commercial lenders, development banks, oil traders and other industry participants to raise funds for crude supplies to turn into refined products, according to people familiar with the matter.
His company Dangote Industries has bought crude from the US and Brazil, and in July was in talks with African suppliers such as Libya and Angola, according to Devakumar Edwin, a senior executive at the group.
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