Why Dangote refinery project risks straining unity in EAC

President William Ruto cautioned against "profiteers" attempting to hinder the Dangote East Africa Refinery project, which is set to commence construction on Wednesday. Ruto emphasized that the Government will hold a stake in the project, with Kenyans presented with the chance to acquire shares via the Nairobi Securities Exchange. The President warned that unreasonable demands and selfish conditions from detractors could drive away capital and hinder the country's economic development.

Ruto, during a tour of the Coast, underscored the significance of the Sh2 trillion project as an economic game-changer for Kenya and the wider region. He dismissed those trying to stymie the project, asserting that the Government would not allow profiteers to derail it. The President highlighted similar instances where investors were thwarted, including Nigeria's Aliko Dangote's failed attempts to establish a cement factory in Kenya and a proposed crude oil pipeline between Kenya and Uganda.

The Dangote refinery, Ruto stated, holds the potential to generate substantial economic opportunities for Kenyans and bolster the nation's foreign reserves. The President expressed confidence that once operational, the refinery will contribute between $6 billion and $7 billion to foreign direct investment in the country. In terms of land ownership, Ruto pledged to address the long-standing issue, committing Sh10 billion to resolving land questions and deploying 300 Ministry of Lands officials to the Coast.

As evidence of his commitment, the President issued 36,000 title deeds in Kilifi County, stating that they were fully funded by the Government and had no associated costs for residents.

When discussing the Coast's water security concerns, Ruto announced that the Government would implement significant water infrastructure projects to alleviate perennial shortages. He inspected the Mwache Dam in Kinango Constituency, which is nearing completion and is expected to provide 186 million litres of water daily. Ruto also highlighted investments in the blue economy, such as fish landing sites and expanded deep-sea fishing capacity.