From inauguration to Lamu refinery: Inside Ruto and Dangote’s growing bond
When Nigerian billionaire Aliko Dangote made a surprise appearance at President William Ruto’s inauguration in September 2022, it immediately renewed attention on his long-standing interest in investing in Kenya. Four years later, the businessman is preparing to break ground on a Ksh2. 2 trillion oil refinery in Lamu, a project that could become one of […]
In September 2022, Nigerian billionaire Aliko Dangote made a surprise appearance at President William Ruto's inauguration in Kenya, reigniting interest in Dangote's growing involvement in the country. Four years later, the businessman is set to break ground on a Ksh2.2 trillion oil refinery in Lamu, one of the largest private investments in Kenya.
The relationship between Ruto and Dangote began with business meetings and personal interactions in the early 2010s. In March 2014, when Ruto was Deputy President, he visited Dangote's Obajana cement plant in Nigeria, as Dangote explored the possibility of establishing a cement manufacturing business in Kenya. Dangote eventually registered companies in Kenya and pursued plans for cement plants in Nairobi and Mombasa, each projecting to produce 1.5 million tonnes of cement annually. However, these plans never materialized.
In 2026, Dangote's interest shifted towards establishing an oil refinery in East Africa, leading to closer discussions with Ruto. At the Africa We Build Summit in Nairobi, Dangote offered to lead the construction of a regional refinery, initially considering Tanga in Tanzania. The discussions eventually shifted to Kenya, with Lamu emerging as the preferred location due to its deep waters, land, and other suitable characteristics.
The relationship between Ruto and Dangote strengthened further during a meeting in New York, where they discussed financing and preparations for the proposed Lamu refinery. Ruto, who had initially considered Tanga, later toured Dangote's facility in Nigeria, describing it as a "masterpiece" and strengthening his confidence in the Kenyan project.
The proposed Lamu refinery, with a capacity of 700,000 barrels of crude oil per day, could create over 60,000 jobs and serve the wider East African market. However, challenges remain, including crude oil supply, infrastructure, financing, and environmental and land concerns. Despite these hurdles, the journey from the 2014 cement discussions to the 2026 Lamu refinery illustrates the evolving relationship between Ruto and Dangote, from cement investments to a major oil refinery venture in Kenya.
Written by urgent.news from People Daily Kenya's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
