Dangote to Build $17 Billion Refinery in Kenya by 2026

Aliko Dangote, president of Dangote Industries Limited and Africa's richest man, announced on September 14, 2026, plans to begin construction of a $17 billion oil refinery in Lamu, Kenya, before the end of September. The refinery is expected to be completed within three years of the start of construction.

This project marks Dangote's first major refining initiative in East Africa and is part of a broader strategy to leverage untapped opportunities across the continent. Kenya's President William Ruto's economic adviser, David Ndii, indicated that Kenya is considering a 10% stake in the project, while Ethiopia and Rwanda have also expressed interest.

Dangote has offered East African countries a combined 30% equity stake in the facility. The refinery will complement Dangote's existing operations at the Dangote Refinery in Lekki, Lagos, which is currently Africa's largest single-train refinery.

The announcement coincided with the launch of the Dangote Petroleum Refinery and Petrochemicals FZE IPO, targeting about $1.6 billion in fresh capital.