By Ayomide Otitoju
Africa’s richest man, Aliko Dangote, has announced plans to construct a 650,000 barrels-per-day refinery in East Africa, similar in scale to his flagship facility in Nigeria, as part of a broader push to expand industrial capacity across the continent.
Dangote made the disclosure on Thursday at a high-level summit in Nairobi, Kenya, attended by African leaders, financiers, and industry stakeholders to address the continent’s energy and infrastructure needs.
Speaking to Kenyan President William Ruto and Ugandan President Yoweri Museveni, Dangote said the project would depend on strong government support and consistent policy direction, while noting that his group plans to invest about $40 billion across various sectors between now and 2030.
He said the proposed refinery would replicate the capacity of the Nigerian facility if backed by enabling policies, stressing confidence in its viability.
“There’s nothing that can stop it,” Dangote said, while emphasising that the project remains at an early stage.
He also used the platform to urge African countries to reduce reliance on imports and focus on building domestic industrial capacity, warning that exporting raw materials amounts to exporting jobs while importing finished goods entrenches poverty.
Dangote further highlighted plans to expand investments in fertiliser and petrochemical production as part of efforts to boost industrial self-sufficiency across the continent.
His remarks come as the Africa Finance Corporation (AFC) warned of a potential 86 million-tonne fuel shortfall by 2040, noting that Africa currently imports over 70 percent of its refined fuel and spends about $230 billion annually on essential imports.
President William Ruto, in his remarks, also called for a shift in Africa’s economic model, warning against continued dependence on external capital and raw material exports.
The proposed refinery is part of Dangote’s broader industrial expansion strategy aimed at strengthening Africa’s energy security and reducing import dependence.
