Afreximbank Congratulates the Government and People of the Republic of Kenya and Dangote Group on Landmark Lamu Refinery Project

African Export-Import Bank (Afreximbank) ( www.Afreximbank.com ) congratulates the Government and people of the Republic of Kenya, led by H.E. President Dr William Samoei Ruto, on the groundbreaking of the Dangote oil refinery in Lamu. The landmark investment has the potential to significantly expand Africa’s refining capacity, strengthen regional energy security and accelerate the continent’s transition from exporting raw materials to trading value-added products. The approximately US$16 billion refinery is planned to have capacity to process 700,000 barrels of crude oil per day and is expected to create approximately 60,000 jobs. Its intended regional ownership and market reach underscore its potential as an East African industrial asset. The refinery is expected to process crude sourced from African producers, including Uganda, while supplying refined petroleum products to Kenya and the wider regional market. The economic significance of establishing large-scale refining capacity is substantial. A project of this scale presents an opportunity to retain more value within Kenyan and African economies, deepen local industrial supply chains, generate employment and associated servic