Dangote picks Mombasa for $17 billion refinery, says project depends on Ruto’s support
By Aboki Forex —
Aliko Dangote is moving ahead with plans to build a $17 billion oil refinery in Kenya. The Nigerian billionaire says Mombasa is his preferred location for the 650,000 barrels-per-day facility.
In an interview with the Financial Times, Dangote said Mombasa’s deeper and larger port gives it an edge over Tanzania’s Tanga, which was also under consideration. “I’m leaning more towards Mombasa because Mombasa has a much larger, deeper port,” he said.
The refinery is expected to cost between $15 billion and $17 billion. Dangote noted that Kenya’s bigger fuel market influenced the decision. “Kenyans consume more. It’s a bigger economy,” he added.
He explained that crude oil for the refinery could be shipped in, removing the need to rely on a pipeline from Ugandan oilfields to the Tanzanian coast. “The ball is in the hands of President Ruto. Whatever President Ruto says is what I’ll do,” Dangote said.
Conditions for the project
For the refinery to go ahead, Dangote said he needs land allocation from the Kenyan government, financing support from East African partners, and regulatory protection against fuel dumping from global suppliers like Russia and India. “There is no refinery in the world that can survive without that protection,” he warned.
Tinubu’s role in Nairobi
President Bola Tinubu is currently in Nairobi for the Africa-France Summit, co-chaired by French President Emmanuel Macron and President William Ruto. The summit, scheduled for May 11 and 12, will focus on energy transition, green industrialisation, digital transformation, and reforms to global financial systems.
Beyond official talks, Tinubu is expected to support private sector expansion, including Dangote’s proposed Kenyan refinery. BusinessDay reports that this aligns with broader efforts to deepen Africa’s industrial base.
The summit is themed “Africa Forward: Africa-France Partnerships for Innovation and Growth.” Leaders will also discuss infrastructure development, youth empowerment, and cross-border investment.