Africa’s richest man, Aliko Dangote, has unveiled plans to establish a 650,000 barrels-per-day refinery in East Africa, replicating the scale of his flagship facility in Nigeria as part of efforts to expand industrial capacity across the continent.
Dangote made this known on Thursday during a high-level summit in Nairobi, where African leaders, financiers, and industry stakeholders convened to deliberate on the continent’s growing energy and infrastructure demands.
Addressing Presidents William Ruto and Yoweri Museveni at the gathering, the industrialist stated that the success of the proposed refinery would depend heavily on sustained government support and policy stability.
“That’s why, as a group, we have now launched an initiative where, between now and 2030, we’re investing $40 billion in various fields.
“Even now, I can give a commitment to the two presidents who are here that if they support the refinery, we will build an identical one to what we have in Nigeria—650,000 barrels, ” he said.
Dangote noted that the project is still in its early stages but expressed strong confidence in its viability. Responding to questions on feasibility, he insisted that it would “definitely” succeed, adding that “There’s nothing that can stop it.”
At the summit, Dangote stressed the urgent need for Africa to reduce its reliance on imports by building local industrial strength.
“We export raw materials, which means when you export raw materials, you are exporting jobs, and when you import, you are importing poverty because you are creating jobs out there, not here on the continent,” he said.
He maintained that industrialisation especially in refining, fertiliser production, and petrochemicals remained key to reversing this trend and generating employment opportunities within Africa.
The proposed refinery forms part of a broader $40 billion investment plan outlined by the Dangote Group, targeting critical sectors that support long-term economic transformation across the continent.
Dangote’s announcement comes amid warnings from the Africa Finance Corporation (AFC) that the continent could face a fuel shortfall of up to 86 million tonnes by 2040.
According to a report presented at the summit, Africa currently imports more than 70 percent of its refined fuel and spends approximately $230 billion annually on essential imports, including fuel, food, and industrial goods.
The report further projects that fuel import demand will rise from 74 million tonnes in 2023 to 86 million tonnes by 2040—an increase equivalent to nearly three refineries of the size of Dangote’s Lagos facility.
President William Ruto, in his remarks, echoed Dangote’s concerns, urging African nations to rethink their economic models.
“Our ambitions will remain unrealised if we continue to depend on external capital whose primary interest is securing raw materials,” Ruto said.
“We cannot continue to export raw materials and import finished products made from them,” he added.
Discussions at the summit also highlighted the fragility of Africa’s energy systems, particularly the continent’s vulnerability to global supply disruptions and persistent infrastructure gaps.
Beyond refining, Dangote outlined ongoing efforts to scale up fertiliser production and petrochemical capacity across Africa.
These include plans to increase urea output and establish blending plants in underserved regions.
“With the support of the government, there’s nothing that is impossible,” he said, expressing confidence in Africa’s ability to achieve self-sufficiency in key industrial inputs.
For Dangote, the proposed refinery is part of a larger vision to reposition Africa from a net importer to a globally competitive industrial hub.
“Let us not be scared… It is possible. Africans can do it,” he said.
As discussions progress, the planned East African refinery is expected to play a significant role in addressing the continent’s looming fuel deficit while advancing its long-term goal of economic independence.
