Ruto Accuses Lamu Refinery Court Challengers of Extortion, Urges Kenyans to Invest
Ruto has said the refinery will be structured as an open investment in which Kenyans can acquire shares through the Nairobi Securities Exchange (NSE).
NAIROBI, Kenya – President William Ruto has criticized individuals challenging the planned Sh2.2 trillion East Africa Oil Refinery in Lamu through court cases, accusing them of attempting to extort investors. Despite these legal hurdles, Ruto insists that the refinery project should move forward, emphasizing that it will create jobs and stimulate industrial development.
On the day of the refinery's groundbreaking, Ruto unveiled the project's ambitious goals, stating that it will process 700,000 barrels of crude oil daily and cater to markets in Kenya and the broader East African region. He emphasized that the refinery would be structured as an open investment, allowing Kenyans to invest through the Nairobi Securities Exchange (NSE), rather than permitting ownership to be concentrated in the hands of a few.
Ruto called on Kenyans to view the investment as a partnership opportunity, urging citizens to participate and view investors as allies in the nation's development. He urged Kenyans to embrace the chances that the project presents, countering the notion that the investment will benefit a select few. The government is actively seeking to mobilize both local and international capital for the refinery, positioning it as a significant investment in Kenya's petroleum and industrial sectors.
The refinery's development has not been without controversy. Local residents have raised concerns over land ownership, compensation, and other project-related issues. These concerns have led to legal challenges, resulting in court orders that have impacted activities at the project site. However, the Dangote Group, which is leading the project, maintains that the legal proceedings will not deter the planned groundbreaking.
President Ruto has vehemently criticized these legal challenges, arguing that individuals supporting the project are simultaneously perpetrating extortion through court cases. He views such actions as unacceptable and unacceptable behavior.
Ruto's remarks follow the groundbreaking ceremony for the refinery, underscoring the government's commitment to the project. The project is projected to generate tens of thousands of jobs, with Ruto estimating around 60,000 positions, while the Dangote Group plans to establish a training school in Lamu to train Kenyan engineers for the refinery and related industries. Moreover, the refinery's completion is expected to bolster downstream industries, including petrochemicals, chemicals, fertilizer production, and packaging.
As construction progresses, the government faces the challenge of balancing the push for the investment with the concerns raised by local communities regarding the project's environmental impact and land use.
Written by urgent.news from Capital FM Kenya's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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