Dangote Proposes $17 Billion Oil Refinery in Kenya to End East Africa's Fuel Import Dependence
Nigerian billionaire Aliko Dangote has announced plans to build a $17 billion, 700,000-barrel-per-day oil refinery on Kenya's Lamu Island, aiming to reverse East Africa's reliance on imported refined fuel. The region holds 4.7 billion barrels of crude reserves but imports all its refined products after the last refinery shut in 2013. The proposed facility would exceed East Africa's current demand of 450,000 bpd, allowing exports to other African markets. Situated on the LAPSSET Corridor, the project could create over 60,000 jobs and test intra-African trade under the AfCFTA. Tanzanian billionaire Mohammed Dewji has pledged $100 million. However, environmental groups and local activists oppose the project, warning it could damage Lamu's UNESCO-listed marine ecosystem. Critics also cite risks of stranded assets amid the global energy transition and potential market dominance concerns. The article draws parallels to Dangote's successful Nigerian refinery, which improved Nigeria's balance of payments and credit rating.
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