African Refiners & Distributors Association

Sustainable Financing

The ARDA SF Work Group will ensure that Members clearly define their project scope and costs, world-class Engineering, Procurement & Construction (EPC) contractors are engaged to execute approved projects and cost-effective financing is deployed for the ring-fenced projects.  Sound economic modelling will be carried out to ensure favourable project economics and the SF Work Group will work with all parties to the transactions to ensure that identified risks are adequately mitigated.

The ARDA SF Work Group will work alongside any Project Advisors selected by the Project Sponsors to ensure that world-class projects are delivered are planned.

  • In collaboration with the parties concerned, support its members in defining key projects related to the modernization of their refineries, terminals and storage and distribution infrastructure for petroleum products,
  • Identify the necessary approach to have the financial and means resources to produce cleaner fuels according to the ARA AFRI roadmap.
  • Develop a Sustainable Financing Roadmap (FD to define the scope, cost and timing of key projects aimed at modernizing their facilities and securing cost effective financing to carry out these projects as envisioned.
  • Ensure the link between downstream operators and Decision Makers to secure funding resources and return on investments in terms of impact.
  • Contribute to the predictive management of the risks incurred
  • The importance of financial resources and their implementation policy have led the ARA to create a WG dedicated exclusively to the financial aspect to ensure the operation and development of refining, import, and fuel infrastructure. Storage, transport and distribution.

    However, work relating to the assessment of investment needs and resources has been the subject of seminars and workshops organized by the WGs concerned. Studies have been carried out with international organizations to assess the risks, investment needs and the financial impact of harmful elements such as sulfur and urban pollution on the health of populations and the environment.

  • Develop and implement the quinquennial and 10-year strategic plans in line with the ARA’s mission to serve as Africa’s “Leader for the Transition to Cleaner Fuels”
  • Track and monitor the roadmap’s action plan
  • Identify in partnership the themes and topics of common interest for the organization of events : Forum, workshops..
  • Develop and implement an annual program for SFG quarterly meetings.
  • Ensure leadership and conduct of meetings in the WG’s terms of reference
  • Identifying ways to implement strategic objectives
  • Develop quarterly activity reports for the ARA Executive Committee

Anibor O Kragha


ARDA Executive Secretary


  • Chief Operating Officer, Refineries & Petrochemicals (R&P) Directorate, Nigerian National Petroleum Corporation (NNPC) (2015 to 2019)
    • Led NNPC Joint Finance Team in engagement of financiers to provide funding and technical expertise for the full rehabilitation of NNPC refineries
  • Upstream Treasurer, ExxonMobil Affiliates in Nigeria (2012 to 2015)
  • Financial Advisor, Affiliate Finance at ExxonMobil Corp. HQ (USA) – Jan. to Jun. 2012
  • Financial Advisor, UBS Treasurer’s, ExxonMobil Development Company (USA) – Jan. to Dec. 2011
    • Award-winning USS1.5 Billion 2012 NNPC/MPN JV Reserves Development Project FInancing
    • Award-winning USS1.1 Billion 2011 NNPC/MPN JV NGL II Upsizing Project Financing
  • Various roles at Mobil Producing Nigeria (MPN) (2005 to 2010)
    • Senior Commercial Analyst (2007 to 2010)
    • Senior Audit Specialist, Upstream Africa Audit (2005 to 2006) covering Chad, Cameroon, E. Guinea, Angola and Nigeria
  • Process Engineer/Manufacturing Team Coordinator, Polaroid Corporation (USA) (1998 to 2001)



  • MBA from MIT-Sloan School of Management (USA) (2003)
  • M.S. Chemical Engineering, Massachusetts Institute of Technology (MIT) (2003)
  • M.S. Plastics Engineering, University of Massachusetts-Lowell (USA) (1998)
  • B.S. Chemical Engineering, University of Minnesota (USA) (1996)



  • ARDA President (2019 to 2020)


Deputy Leader

Admin and Finance Director, SIR Refinery (Côte d’Ivoire)

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