Dangote offered East African countries 30% stake in planned refinery

Aliko Dangote has offered East African countries a combined 30% equity stake in his planned refinery in Lamu, Kenya, according to David Ndii, chairman of Kenyan President William Ruto’s Council of Economic Advisers.  

The proposed refinery is expected to have a capacity of 700,000 barrels per day and could cost about $16–17 billion. Kenya is considering a 10% stake valued at roughly $500 million, while Ethiopia and Rwanda have also expressed interest. The total regional equity participation is estimated at about $1.5 billion.  

Construction is expected to begin later this year, with the project designed to supply refined petroleum products across East Africa and strengthen the region’s energy security.