The African Development Bank(AFDB) has approved a loan of $300 million to Dangote Industries Limited for the construction and operation of a greenfield fertilizer manufacturing plant as part of efforts to boost fuel supply and fertilizer production in Nigeria. In what would be the largest privately owned refinery in the country, it is estimated that the proposed $9 billion refinery, petrochemical and fertilizer complex in Lekki Free Trade Zone, Lagos, will have initial capacity to process 400,000 barrels of oil per day(bpd).