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Africa's Richest Man Dangote and Kenya President Ruto to Launch $16bn Oil Refinery
Nigerian billionaire Aliko Dangote and Kenyan President William Ruto are set to break ground on a $16 billion oil refinery in Lamu, Kenya, with construction due to begin on November 1. The refinery, Dangote's largest proposed investment outside Nigeria, is expected to process 700,000 barrels of crude oil a day upon completion in 2030, making it East Africa's largest industrial project by capacity. Local residents have protested over land compensation, but Dangote dismissed these concerns, emphasizing the project's development benefits. The facility will also include a 1,000-megawatt power plant.
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