Dangote-backed Lamu Refinery

pre-approval

The Dangote-backed Lamu refinery is a proposed petroleum refinery project in Kenya designed to process 700,000 barrels of crude oil per day, making it the largest refinery in Africa by throughput capacity and the seventh largest in the world. The project aims to supply refined petroleum products to eight East African countries and address the region's energy security deficit following the closure of Kenya's only domestic refinery in 2023. The estimated project cost is approximately $17 billion, with financing expected from the Dangote Group's internal capital, capital market borrowing, and a partial IPO. Construction is targeted to start in late 2026, pending environmental and regulatory approvals, with a projected build time of about 30 months. The project also carries significant employment potential, with claims of creating at least 60,000 jobs for young Kenyans, including direct, construction-phase, and indirect employment.