Ruto Commends Dangote Refinery, Eyes $36 Billion Revenue

Kenyan President William Ruto described the Dangote Petroleum Refinery as “a masterpiece of science, engineering, and art” after touring the facility in Lagos. This visit followed his attendance at the UN General Assembly in New York.

Ruto expressed confidence in the proposed $17 billion East African Oil Refinery and Petrochemical Complex planned for Lamu, emphasizing its regional significance. He confirmed that preparations for the Lamu project’s groundbreaking are complete, with the Government of Kenya fully supporting it.

Dangote Group’s Chief Strategy Officer, Aliyu Suleiman, reported that the conglomerate earned approximately $17 billion in the first half of 2026 and is on track for $36 billion in total revenue for the year, driven by investments across various sectors. The planned Lamu refinery, also targeting 700,000 barrels per day, is expected to contribute significantly to Dangote's Vision 2030 strategy, which aims to build a $100 billion African industrial enterprise.

Additionally, Dangote Group is advancing plans to increase the Lagos refinery's capacity to 1.4 million barrels per day.