East African Nations Offered 30% Share of Dangote’s Kenya Mega-Refinery

AI Summary

Nigeria's Dangote Group offers East African nations a 30% stake in a planned mega-refinery in Kenya, designed to process 700,000 barrels per day at an estimated cost of $17 billion. The refinery on Lamu Island is intended to serve Kenya, Uganda, South Sudan, Rwanda, and more.

Nigeria’s Dangote Group has offered a 30% stake in a planned refinery in Kenya to East African nations, a senior economic adviser to Kenya’s President William Ruto said.  Dangote Group, the corporation of Africa’s richest man, Aliko Dangote, plans to build a refinery in Kenya with a processing capacity of as much as 700,000 barrels per day of crude, which is estimated to cost about $17 billion. The refinery on Kenya’s Lamu Island would process crude for Kenya, Uganda, South Sudan, Rwanda, Burundi, and the democratic…