President William Ruto has said Kenyans will be allowed to own part of the Dangote East Africa Refinery through the Nairobi Securities Exchange as the Ksh 2 trillion project moves to its Lamu groundbreaking.
Speaking during his Coast tour on Tuesday, Ruto said the government would take a stake in the refinery and make shares available to the public.
“The refinery investment is open and transparent,” the President said, adding that ordinary Kenyans should have an opportunity to participate in the project.
The refinery, backed by Nigerian businessman Aliko Dangote, is expected to have a processing capacity of 700,000 barrels of crude oil a day. Construction is scheduled to begin on Wednesday, September 30, with the facility expected to serve Kenya and other East African markets.
Dangote has also committed to listing the East African refinery on the Nairobi bourse, allowing local investors to participate in the project.
Ruto also warned people he accused of placing unreasonable demands on investors, saying such actions could discourage capital from coming into Kenya.
“Investors need incentives, not conditions,” he said, arguing that the country must create an environment that makes it easier for businesses to invest.
Ruto on investors
The President said the refinery could help increase foreign investment and strengthen Kenya’s foreign exchange position. He put foreign direct investment at $3.2 billion in 2025, compared with $1.6 billion in 2022, and said he expected the refinery to help push annual inflows to between $6 billion and $7 billion once operational.
The project is facing a legal dispute over the land where it is planned. A Kenyan court has ordered the parties to maintain the status quo pending further proceedings, although the groundbreaking ceremony is going ahead. Dangote’s group has said the court decision could affect some site activities but would not stop the launch.
The refinery is expected to process crude from Kenya and other African producers and supply refined petroleum products to the region. Its proposed capacity would make it one of the largest planned refining facilities in Africa.
Preparations for construction have already begun. The Port of Lamu recently received 2,930 tonnes of heavy machinery and construction materials.
During his Coast tour, Ruto also highlighted other development plans, including the issuance of 36,000 title deeds in Kilifi and increased investment in water and fishing infrastructure.
The President said the government would continue supporting investments while addressing long-standing land concerns in the Coast region.
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