Nigerian billionaire Aliko Dangote is looking to Kenya for his next major project: a 650,000 barrels-per-day oil refinery estimated to cost between $15 and $17 billion. 31c7
In an interview with the _Financial Times_ published May 10, Dangote said he is “leaning more towards Mombasa because Mombasa has a much larger, deeper port”. He also noted that “Kenyans consume more. It’s a bigger economy”, making it a stronger market and logistics base than Tanzania’s Tanga port.
If it goes ahead, the refinery would match the capacity of his Lagos plant and rank among the largest private energy investments in Africa. It could significantly boost Kenya’s fuel supply capacity, reduce import dependence, and create jobs in the coastal region.
The move would mark a major expansion of Dangote’s energy footprint outside Nigeria, following his $19 billion Dangote Refinery in Lagos, which began operations in January 2024.
No formal agreement has been announced yet. Dangote said the final decision rests with President William Ruto, and that the project would require land, financing support, and protection against cheap fuel imports.
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