Ruto: Govt to Deploy Assets, Infrastructure Fund for Sh2.2tn Lamu Refinery Investment
Ruto said the government would participate directly in the ownership of the refinery, which is being developed by Nigerian billionaire Aliko Dangote.
President William Ruto announced that Kenya's government will take a stake in the planned Sh2.2 trillion Lamu oil refinery, with public assets and the National Infrastructure Fund to be deployed for the project. The refinery, being developed by Nigerian billionaire Aliko Dangote, is expected to be a significant component of Kenya's petroleum and industrial development strategy.
The government will participate directly in the ownership of the refinery and utilize its existing assets and the National Infrastructure Fund to contribute to the investment. The refinery, with a processing capacity of up to 700,000 barrels per day, is positioned as a major regional energy and industrial investment, targeting the Kenyan and wider East African market.
It is also expected to create employment opportunities and support associated industries during construction and operation. The government's decision to invest directly in the project signals its commitment to Kenya's broader industrialisation agenda, with Ruto emphasizing the potential for employment, expanded local supply chains, and increased economic activity.
Despite legal and community concerns surrounding the project, the government remains supportive and encourages Kenyans and institutional investors to participate in the refinery through the Nairobi Securities Exchange.
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.
