Africa’s Richest Man Aliko Dangote Targets Kenya for $17bn.

Nigeria’s richest industrialist Aliko Dangote has set his sights on Kenya as a potential location for a massive 650,000-barrel-per-day oil refinery that could reshape East Africa’s energy landscape. The plan, valued between $15 billion and $17 billion, signals one of the region’s most ambitious industrial proposals in years, according to a report by the Financial Times.

Dangote revealed that Mombasa stands out as his preferred option. He pointed to its deeper port and stronger logistics capacity. “I’m leaning more towards Mombasa because Mombasa has a much larger, deeper port,” he said. The statement highlights Kenya’s growing role in regional energy conversations.

The proposal comes shortly after Kenyan President William Ruto confirmed that East African nations are exploring a shared refinery model at Tanzania’s Tanga port. That project is inspired by Nigeria’s Dangote refinery, which remains Africa’s largest single-train facility.

However, Dangote drew a direct comparison between the two locations. He noted that Kenya offers a larger consumer base and stronger economic activity. “Kenyans consume more. It’s a bigger economy,” he said, reinforcing his interest in Nairobi-backed infrastructure growth.

He also emphasized that political support will determine the final decision. “The ball is in the hands of President Ruto. Whatever President Ruto says is what I’ll do,” he added, signaling that government backing remains critical for execution.

East Africa currently depends entirely on imported refined petroleum products, mainly from the Middle East. This dependency exposes the region to global shocks, especially during geopolitical tensions and supply chain disruptions. Recent global conflicts have already triggered fuel price volatility across several African markets.

If completed, the refinery could significantly reduce import reliance and stabilize fuel prices across Kenya, Uganda, Tanzania, Rwanda, and neighboring economies. It would also position East Africa as a refining hub rather than a fuel-importing region.

Dangote previously confirmed at an infrastructure summit in Nairobi that his Nigerian model could be replicated across Africa if governments provide strong support. That vision now appears closer to reality as regional leaders push for energy independence.

The proposed project reinforces Africa’s shifting energy narrative, where local refining is becoming a priority over long-distance fuel imports. It also strengthens Kenya’s position as a strategic investment destination in the continent’s industrial future.