Kenya, Rwanda Move For Stakes As Dangote Offers 30% Of $16bn Lamu Refinery To East Africans
… Pledges 60,000 Jobs
The $16 billion Dangote refinery in Lamu is being positioned as a regional asset, with 30 per cent of its equity reserved for East African countries to drive regional ownership and energy security.
President/chief executive of Dangote Industries Limited, Aliko Dangote, disclosed this at the groundbreaking of the Dangote East Africa Petroleum Refinery and Petrochemicals Complex in Lamu, Kenya, saying Kenya and Rwanda had already moved quickly to take up the offer.
The 700,000 barrels-per-day refinery, petrochemicals and 1,000 megawatts power complex, valued at about KSh2 trillion, is designed to serve markets including Uganda, Tanzania, Ethiopia, South Sudan and the Democratic Republic of Congo.
Dangote said, “This refinery is therefore not simply about one country. It is about a region.”
He argued that Africa can no longer afford to export crude and import finished products, saying “Africa cannot build lasting prosperity by exporting what it has and importing what it needs. We must refine more of what we produce. We must retain more value here at home in Africa.”
Dangote stated that the refinery will be delivered within 40 months, saying equipment and technical resources have already been mobilised, drawing from lessons learnt in delivering the Dangote Petroleum Refinery in Lagos.
He placed jobs and local participation at the centre of the project, announcing that qualified graduates from Lamu will be offered jobs, while more than 1,000 young people from host communities will be trained in a dedicated technical school for construction and operational roles.
Kenyan President William Ruto described the project as a generational undertaking projected to create 60,000 direct and indirect jobs and generate 1,000MW of electricity, including polypropylene and base oil production.
He said construction alone would inject more than KSh2 billion monthly in wages into shops, hotels, restaurants, transport and housing, and directed technical colleges and universities to prepare welders, technicians, engineers and managers, insisting youths from Lamu must get a fair chance.
Lamu Governor Issa Timamy condemned litigation seeking to stop the project, saying those behind it do not represent the aspirations of Lamu people and are working against an investment capable of transforming the county.
He said Lamu had been rich in history and culture but left behind in development, and the refinery offers a chance to become an industrial destination, while stressing the need to protect mangroves, fishing grounds and cultural heritage.
Former Nigerian President Olusegun Obasanjo led African leaders in hailing Dangote as a pathfinder for African industrialisation, recalling his evolution from trading and importation into large-scale manufacturing and said the Lamu investment shows what African entrepreneurship backed by purposeful political leadership can accomplish.
Ugandan President Yoweri Museveni said Africa cannot continue exporting raw materials while surrendering jobs and wealth, backing the regional ownership model as smart because the region participates as owner, not just market.
Ethiopian Prime Minister Abiy Ahmed said the refinery would strengthen East Africa’s energy security and reduce vulnerability to global market disruptions, noting Dangote’s record in cement, fertiliser and refining proves African enterprises can operate at global scale.
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