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Nigeria's Dangote signs deal to build oil refinery

4 September 2013 Last updated at 19:51 BST

Africa's wealthiest man, Aliko Dangote, has signed a multi-billion dollar deal with banks to finance the building of an oil refinery in Nigeria.

The refinery would be the largest in Africa, turning Nigeria into a petroleum exporter, he told the BBC.

Nigeria is Africa's biggest oil producer but lacks refining capacity and has to import most of its fuel.

The West African state is often hit by fuel shortages, and conflict over control of its oil wealth.

Mr Dangote told the BBC's Chris Ewokor that job creation is the most important thing.