SUBSIDIARY NAME
DR LUKMAN AKANDE BOIJA
COUNTRY
NIGERIA
SECTOR/ INDUSTRY
ENERGY
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
MAR 30, 2022
ACQUISITION VALUATION
2.5 BILLION USD
TOTAL ASSET VALUATION
22.5 BILLION USD
ENERGY-OIL-REFINERY-GAS
DR LUKMAN AKANDE BOIJA: The proposed project would therefore be the first large privately owned refinery in Nigeria. It would comprise of a 100,000 BPD crude oil refinery consisting of two stainless steel modules of 50,000 BPD each. The core refinery process will comprise a gasoline fuel oil refinery, with Naphtha stabilizer and splitting; naphtha desulphurizer and catalytic reformer, kerosene hydro treated; fluid catalytic cracker; gas plant; alkylation; and delayed Coker capable of processing Nigerian light crude (Bonny, Forcadors, Qua Iboe, etc.) with general NNPC specifications of 33-37 API and Sulfur content of 0.10% by WT.