By Ayomide Otitoju
Kenyan President William Ruto has described the Dangote Petroleum Refinery as a major African investment, saying it demonstrates what governments, investors and financial institutions on the continent can achieve through collaboration.
Ruto made the remarks in a post on his official X account after visiting the refinery in Lagos.
“The refinery in Nigeria is a massive investment with a crude oil refining capacity of 700,000 barrels a day and produces more than 100 million litres of petrol, diesel and aviation fuel every day,” he said.
He also highlighted the refinery’s 120-kilometre subsea pipeline system for transporting crude oil from ships to the facility, describing the project as evidence of the potential for large-scale African investments.
Ruto said a refinery project expected to be launched in Kenya next week would be larger in scale and create about 60,000 jobs.
“It will transform the petroleum sector in our country and region, providing fuel reliability and security, scaling up industrialisation and creating 60,000 jobs,” he said.
He added that the refinery would support the emergence of related industries, including fertiliser, chemical and packaging manufacturing.
Located in the Lekki Free Trade Zone, Lagos, the Dangote Refinery was inaugurated in May 2023 after nearly a decade of construction, with an investment estimated at about $20 billion.
The facility reached a processing capacity of 650,000 barrels of crude oil per day in February 2026, making it the world’s largest single-train refinery and Africa’s largest refining complex.
Earlier in September, the refinery opened its Initial Public Offering (IPO), offering 4.1 billion ordinary shares at ₦525 per share in a bid to raise about ₦2.2 trillion.
The minimum subscription was set at 10 ordinary shares, equivalent to ₦5,250.
