Speaking at the commissioning of the refinery on Monday, he said the commercial loan component of the project was financed majorly by domestic banks while the rest was made available by foreign banks.
According to him, the CBN provided about N125 billion for domestic currency requirements while also ensuring the availability of foreign exchange (FX) to pay for imported equipment.
He said, “We have it on good authority that the Dangote Group has paid off some portion of these commercial loans even before this commissioning today,” Emefiele said.
“I must at this juncture appreciate all the participating local Nigerian banks, who did not only partner with the project through effective financing but were keenly aware of the importance of the project for our nation.
“They provided immense support and exceptional understanding, even when interest payments and principal repayment had fallen due.”