Kenyan President William Samoei Ruto has lauded the Dangote Petroleum Refinery in Lagos, describing it as "a masterpiece of science, engineering and art". During a tour of the facility, Ruto expressed his confidence in the proposed East African Oil Refinery and Petrochemical Complex in Lamu, Kenya. The project, valued at $17 billion, aims to drive industrialization, create jobs, and promote regional economic integration. Ruto's visit followed his attendance at the United Nations General Assembly.
The Dangote Petroleum Refinery has a capacity of 700,000 barrels per day, and Ruto's visit has strengthened his confidence in the East African refinery project. He disclosed that preparations for the groundbreaking ceremony of the Lamu project have been completed. The refinery is expected to become a strategic regional asset for East Africa, enhancing energy security and promoting economic growth. Ruto emphasized that the project will not only benefit Kenya but also the entire region.
Ruto commended Aliko Dangote, President and Chief Executive of Dangote Group, for his leadership and commitment to the project. He noted that Dangote's understanding of the refinery's technical and operational processes is remarkable. The Kenyan government has secured the required land for the project and is working to ensure efficient execution. Ruto stated that his government is 100% behind the project, which is expected to accelerate industrialization and create jobs.
Dangote Group's Chief Strategy Officer, Aliyu Suleiman, announced that the company generated approximately $17 billion in revenue during the first half of 2026. The company is on track to achieve a record $36 billion in revenue for the full year, representing a 100% increase over the $18 billion recorded in 2025. Suleiman attributed the strong performance to sustained investments across key sectors, including cement, sugar, fertilizer, and petroleum refining.
The growth ambitions of Dangote Group are anchored on its Vision 2030 Strategy, aimed at expanding the company's industrial footprint across Africa. The company executed a capital expenditure program of approximately $50 billion between 2020 and 2025. Over the next five years, Dangote Group intends to invest twice that amount as it accelerates its expansion across Africa. The proposed East African refinery in Kenya will be a cornerstone of the Group's ambition to build a $100 billion African industrial enterprise.
Dangote Group has signed a contract worth over $450 million with Engineers India Limited to provide project management consultancy and engineering services for the Lamu refinery and petrochemical complex. The partnership builds on the company's experience in developing the Dangote Petroleum Refinery in Lagos. Once completed, the East African refinery is expected to process 700,000 barrels of crude oil per day, strengthening regional energy security and supporting industrial development.
President Ruto's visit and Dangote Group's growth plans highlight the impact of African-led investments in driving the continent's industrial renaissance. With record revenue growth and a robust investment pipeline, Dangote Group is reinforcing its role as a key driver of Africa's economic transformation, energy security, and industrial development. The company's expansion plans span various sectors, including port infrastructure, gas infrastructure, and mining.
Key points
- Dangote Group targets $36 billion in revenue for 2026, a 100% increase over 2025.
- The proposed East African Oil Refinery and Petrochemical Complex in Lamu, Kenya, is valued at $17 billion.
- The Dangote Petroleum Refinery in Lagos has a capacity of 700,000 barrels per day.
