Ruto, Dangote finalise Lamu refinery push in New York

President William Ruto has advanced plans for East Africa’s largest oil refinery after holding high-level talks with Nigerian industrialist Aliko Dangote and Africa Finance Corporation (AFC) chief executive Samaila Zubairu on the sidelines of the 81st United Nations General Assembly in New York.

The meeting on Monday focused on financing arrangements and final preparations for the proposed East Africa Refinery in Lamu County, a project estimated at KSh 2.2 trillion (about $17 billion). Ruto declared that Kenya is ready to break ground on the facility, with the groundbreaking ceremony scheduled for 30 September 2026

“We are ready to break ground on the East Africa refinery in Lamu, a transformative project that will enhance the region’s energy security, deepen local value addition, create jobs and advance our industrialisation agenda,” the President said after the talks. He added that the investment would unlock new economic opportunities, strengthen regional supply chains and position East Africa as a competitive energy and industrial hub.

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The planned refinery is designed to process 700,000 barrels of crude oil per day, making it the largest in East Africa and the second-largest on the continent after Dangote’s flagship plant in Nigeria. Once operational, it is expected to supply refined petroleum products to Kenya and neighbouring countries including Ethiopia, South Sudan, Uganda, Tanzania, Rwanda, Burundi and the Democratic Republic of the Congo. Officials project it will create more than 60,000 jobs.

Dangote Industries selected Lamu as the preferred site earlier this year, citing its deep-water port capabilities and strategic location along the Lamu Port-South Sudan-Ethiopia Transport (LAPSSET) corridor. The project forms a central part of Ruto’s economic engagements in New York, where he is co-chairing investment roundtables hosted by the AFC and the Global Africa Business Initiative alongside Dangote. Discussions have also covered broader partnerships in energy, infrastructure, manufacturing and related sectors.

Financing remains a key focus. The refinery is expected to draw on a mix of Dangote Group resources, corporate bonds, potential equity participation by East African governments (with offers of up to a 30 per cent regional stake previously discussed) and other institutional funding. Construction is projected to take several years once work begins.

The New York talks mark a significant step in moving the long-discussed project from planning toward implementation, reinforcing Kenya’s ambitions to become a regional energy and industrial hub while reducing dependence on imported refined fuels.