Africa’s Richest Man Dangote Eyes Kenya for New Refinery, FT Reports
Dangote is considering a 650,000-barrel-a-day refinery that could cost $15 billion to $17 billion, Reuters reported.
- On Sunday, Nigerian billionaire Aliko Dangote revealed plans to construct a 650,000-barrel-per-day oil refinery in Kenya, with Mombasa County emerging as his preferred location due to its superior port capacity.
- East Africa currently imports all refined petroleum products from the Middle East, leaving the region vulnerable to price spikes and supply disruptions that have threatened energy security.
- Estimated at $15 billion to $17 billion, the refinery would rank among Africa's largest private energy investments, with Dangote favoring Mombasa over Tanzania's Tanga port for its deeper harbor and larger fuel market.
- "The ball is in the hands of President Ruto," Dangote said, with his final decision depending on further discussions with Kenyan President William Ruto regarding the initiative.
- Kenya and Tanzania are now competing to host the refinery, which emerged from last month's Build Summit aimed at reducing the region's dependence on imported fuel across East Africa.
15 Articles
15 Articles
Dangote Eyes Kenya for $17bn East African Refinery
Nigerian billionaire Aliko Dangote is leaning towards building a massive $17 billion oil refinery in Kenya, specifically in Mombasa, rather than Tanzania.In an interview with the Financial Times, Dangote cited Mombasa’s larger and deeper port as a key advantage over Tanzania’s Tanga port. The proposed 650,000 barrels-per-day refinery would match the capacity of his landmark refinery in Lagos.“I’m leaning more towards Mombasa because Mombasa has …
Dangote Plans $17 Billion Oil Refinery in Kenya
Nigerian billionaire Aliko Dangote has announced plans to build a $17 billion oil refinery in Kenya, saying he is leaning towards the port city of Mombasa as the preferred location for the 650,000-barrel-a-day facility. In an interview with the Financial Times, Dangote said he is considering Kenya over Tanzania after questions arose over a previous push to build the refinery in Tanzania. “I’m leaning more towards Mombasa because Mombasa has a mu…
Dangote Shifts East Africa Refinery Focus to Kenya After Tanzania Concerns
By Adedapo Adesanya African businessman, Mr Aliko Dangote, has said that due to Tanzania’s current reservations, there is a strong case for the planned East African Dangote refinery to be hosted in Kenya instead. Last month, it was reported that the billionaire, alongside the presidents of Kenya and Uganda, Mr William Ruto, and Mr Yoweri […]
Africa's richest man Dangote Eyes Mombasa for $17bn East African Refinery
Nigerian billionaire Aliko Dangote has publicly shifted his preferred location for a proposed East African oil refinery from Tanzania’s Tanga port to Kenya’s Mombasa, in a development that could rank as the single largest private industrial investment ever proposed in the region. Speaking in an interview with the Financial Times published on 10 May 2026, […] The post Africa’s richest man Dangote Eyes Mombasa for $17bn East African Refinery appea…
Africa’s richest man Dangote eyes Kenya for new refinery
Nigerian billionaire Aliko Dangote is looking at Kenya as the site of a 650,000-barrel-a-day oil refinery that he intends to build in East Africa, the Financial Times reported yesterday, citing an interview with him. “I’m leaning more towards Mombasa because Mombasa has a much larger, deeper port,” Dangote said in the interview. The report comes after Kenyan President William Ruto said last month that East African countries were discussing pla…
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