A giant oil refinery complex being built in Nigeria by a company owned by Aliko Dangote, Africa’s richest person, will cost more than double the amount originally projected. “Our capex will almost go to $19-billion by the time we finish,” Devakumar Edwin, group executive director of Dangote Industries, said in an interview broadcast on Arise News on August 31. The facility near Lagos, Nigeria’s commercial hub, was expected to cost $9-billion eight years ago, a price tag that had climbed to $15-billion by 2019.
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