Africa's richest man, Aliko Dangote, has revealed that he was previously unaware of Lamu County, which will be home to a Sh2 trillion oil refinery project undertaken by his company, Dangote Group, and the Kenyan government. In an interview, Dangote stated that he only learned about Lamu in January 2026 after his team visited the county and again in April during discussions with President William Ruto on setting up a fertilizer supply in Kenya.
According to Dangote, the location of the project was initially a discussion between Kenya's Mombasa and Tanga in Tanzania before Lamu was chosen. He noted that Tanga was a good location considering the pipeline carrying Uganda's crude, adding that a refinery does not need to be where crude is, citing examples of India and Singapore, which own big refineries despite not producing any oil.
Dangote said that after discussions with Ruto and visits by his team, Lamu offered adequate land for the planned development, water, and sufficient sea depth to accommodate ships carrying crude. He expressed his optimism about the project's potential, stating that Lamu will have more activities than any industrial centre in Kenya once the project is completed.
The billionaire revealed that the refinery could become the beginning of a much larger industrial complex in Lamu, adding that he expects significant activity in the area once the project is completed within the next four years. Dangote said that the refinery will produce jet fuel, diesel, and petrol, which are commonly used in the country.
In addition to producing fuel, Dangote stated that the refinery will also supply raw materials to the plastics industry and other manufacturers within the East African region. He mentioned that they will try to accommodate more people by giving up more shares for sale, adding that Kenya and Botswana could offer what they are looking for, but they will also look within and outside Africa.
Dangote expressed his enthusiasm for the listing of the refinery at the Nairobi Stock Exchange, which he believes will open up opportunities for more investments. He also mentioned that the refinery will source crude from East African countries producing it as the first priority and then from the Middle East and other oil-producing countries.
According to Dangote, there are plans in place for the production of electricity, which he believes will address Africa's power deficit. He stated that inadequate electricity remains one of the factors slowing industrial growth in Africa and that his company will invest Sh2 trillion in the project. Dangote also hinted at possible future plans, including expanding to fertilizer production and sale, and potentially cement production.
Key points
- Aliko Dangote's Dangote Group is investing Sh2 trillion in an oil refinery project in Lamu County, Kenya.
- The project is expected to be completed within the next four years and will produce jet fuel, diesel, and petrol.
- Dangote believes the refinery will become the beginning of a much larger industrial complex in Lamu, driving economic growth in the region.
