Nigeria, Aug. 14 -- The Africa Finance Corporation (AFC) has led a group of strategic investors in the recently completed $2.5 billion private placement by Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).

In a statement issued on Thursday, AFC said the latest investment reflects its model of providing early-stage risk capital and recycling funding into the next generation of transformative projects once assets reach stable and cash-generative operations.

DPRP owns the approximately $20 billion integrated refining and petrochemical complex located on a 2,500-hectare site in Lagos.

The refinery has a nameplate capacity of 650,000 barrels of crude oil per day and processes crude petroleum into petrol, diesel, aviation fuel, lique...