Nigeria's Dangote group says new $9 bln refinery seen onstream in 2017

CAPE TOWN (Reuters) - A new $9 billion refinery in Nigeria producing 500,000 barrels per day being developed by Africa's richest man, Aliko Dangote, is expected to come onstream within two years time, a senior Dangote Group official said Tuesday. The refinery in Lagos will cut reliance on international markets for Africa's largest oil producer, which imports about 80 percent of its fuel needs. The lack of sufficient refining capacity is a major brake on Africa's second biggest economy.