By Ayomide Otitoju
Africa is taking greater control of its industrialisation, Nigerian businessman Aliko Dangote said on Wednesday as a $16 billion oil refinery project was launched on Kenya’s coast.
The refinery, being developed at the Kenyan port of Lamu, is expected to have a production capacity of 700,000 barrels per day, according to Dangote, making it larger by capacity than any refinery in Europe.
Dangote, who built Africa’s largest oil refinery in Nigeria, said the project represented greater African cooperation in developing the continent’s industrial capacity.
“This is Africa coming together to build Africa. Today we are not simply breaking ground for a refinery; we’re breaking ground for a new chapter in Africa’s industrial journey to a brighter future,” he said.
Kenyan President William Ruto, Ethiopian Prime Minister Abiy Ahmed and Ugandan President Yoweri Museveni were among regional leaders who attended the groundbreaking ceremony.
Dangote said the project could help reduce Africa’s dependence on imported refined petroleum products by increasing domestic refining capacity.
“For too long, our continent has actually been rich in resources but poor in value creation and addition. We have exported crude oil and imported refined products,” he said.
He added that exporting raw resources while importing finished products meant African countries were losing jobs and economic opportunities that could otherwise remain on the continent.
“Africa cannot build lasting prosperity by exporting what it has and importing what it needs,” Dangote said.
