The Senior Executive Vice President of African Export-Import Bank, Denys Denya, has said the bank is financing three additional refineries in Nigeria as part of efforts to cut the country’s dependence on imported petroleum products.
Speaking during a virtual media briefing on Monday, Denya said the intervention forms part of a broader strategy to boost local refining capacity and reduce Africa’s vulnerability to external supply shocks.
“We are also financing refining on the continent, which will alleviate the importation of refined products. We are not only supporting Dangote; we’re supporting three other refineries in Nigeria,” he said.
The briefing, which focused on the bank’s 2025 financial performance, crisis response initiatives, and industrialisation strategy, also featured a question-and-answer session with journalists across Africa.
