Its goal is to raise 1.6 billion US dollars to partially expand its massive oil refining plant and turn it into the largest in the world.
The oil refining plant located in Lagos, which started operating in 2024, has a capacity of 700,000 barrels per day, exceeding domestic demand in Nigeria – the most populous country in Africa. According to the company, it began exporting fuel abroad a few months ago and became the largest supplier of jet fuel to Europe.
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