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 a much larger, deeper port,” Dangote said.
He noted that Kenya has higher fuel consumption and a bigger economy, adding that crude could be imported by ship.
The project, estimated to cost between $15 billion and $17 billion, would require support from Kenyan President William Ruto, including land allocation, local financing, and protection against cheap fuel imports (dumping).
Dangote stated that the “ball is in the hands of President Ruto” and that he could start construction this year if an agreement is reached.
The shift comes after Tanzanian President Samia Suluhu Hassan reportedly expressed displeasure over the initial plan to site the refinery in Tanga without proper consultation.
Dangote’s successful Lagos refinery, commissioned in 2023, has been operating at full capacity and has helped stabilise Nigeria’s fuel supply amid global disruptions.
He is also planning to expand its capacity to 1.4 million barrels per day.
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