Kenyan President William Ruto has commended the Dangote Petroleum Refinery in Lagos, describing it as "a masterpiece of science, engineering and art." Ruto's comments came after a tour of the 700,000 barrels-per-day refinery, which he said deepened his confidence in the proposed $17 billion East African Oil Refinery and Petrochemical Complex planned for Lamu, Kenya. The Kenyan leader attended the UN General Assembly in New York before visiting the refinery.
Ruto expressed his admiration for the refinery's scale and complexity, congratulating Aliko Dangote, the founder of the Dangote Group. He noted that Nigerians are known for being brave and entrepreneurial, but he was impressed by the magnitude of the project. The Kenyan president also mentioned that preparations for the Lamu project's groundbreaking had been concluded, describing it as a regional rather than purely national venture.
The Lamu refinery is expected to be a regional project, positioning Africa as an emerging growth centre. Ruto stated that Kenya had secured the required land and pledged to clear administrative bottlenecks to ensure the project's success. He emphasized that the Government of Kenya is 100 per cent behind the project. The Kenyan leader also praised Dangote's hands-on grasp of the refinery's operations.
Dangote Group's Chief Strategy Officer, Aliyu Suleiman, provided an update on the company's financial performance. He said the conglomerate earned about $17 billion in the first half of 2026 and is on track for $36 billion in full-year revenue — double the $18 billion recorded in 2025. Suleiman attributed the growth to sustained investment across various sectors.
The Dangote Group's Vision 2030 strategy aims to build a $100 billion African industrial enterprise. Suleiman said the Group spent roughly $50 billion on capital projects between 2020 and 2025 and plans to double that outlay over the next five years. The planned Lamu refinery is expected to be a "major contributor" to that $100 billion ambition.
The Dangote Group has already signed a contract worth more than $450 million with Engineers India Limited for project management and engineering services on the Lamu plant. The company is also progressing plans to nearly double the Lagos refinery's capacity to 1.4 million barrels per day with a new 750,000 bpd crude distillation unit. This expansion will reinforce Nigeria's standing as a leading exporter of refined products.
The Dangote Refinery and the planned Lamu refinery are significant projects for Africa's energy sector. The Kenyan president's visit and endorsement of the Dangote Refinery highlight the project's importance and potential impact on the region. With a strong focus on investment and growth, the Dangote Group is poised to continue playing a major role in Africa's industrial development.
Key points
- Kenyan President William Ruto praises Dangote Refinery as "masterpiece" and commends Aliko Dangote's entrepreneurial spirit.
- Dangote Group eyes $36bn revenue in 2026, driven by sustained investment across various sectors.
- The planned Lamu refinery is expected to be a "major contributor" to Dangote Group's $100 billion African industrial enterprise ambition.
