Nigeria is set to increase the number of crude cargoes allocated to the Dangote Refinery in a bid to boost domestic supply of refined products as the Iran war chokes traditional global energy routes.

Nigeria plans to raise $5 billion from the United Arab Emirates’ largest lender in a derivatives deal to cut borrowing costs, joining a growing number of African nations using the instruments as the war in Iran drives yields higher.

Nigeria plans to raise $5 billion from the United Arab Emirates’ largest lender in a derivatives deal to cut borrowing costs, joining a growing number of African nations using the instruments as the war in Iran drives yields higher.