Dangote Says US Investors to Join $16B Lamu Refinery as Kenya Groundbreaking Nears

Nigerian industrialist Aliko Dangote said on Tuesday that American investors will take part in a planned $16 billion oil refinery in East Africa, while stressing that the project should remain under African control.

Speaking in Kenya a day before the groundbreaking ceremony in the coastal town of Lamu, Dangote said US investors "will definitely come," citing Washington's backing for his earlier ventures. He pointed to a proposed refinery in Brownsville, Texas, linked to an energy arrangement that US President Donald Trump has described as worth $300 billion. That figure covers a long-term supply and product-distribution deal rather than the construction cost of the refinery alone.

According to Dangote, three East African countries — Kenya and two others he did not name — will together hold a 30% stake in the Lamu plant, which is expected to create 60,000 jobs. The facility is designed to process 700,000 barrels of crude per day, drawing on supplies from Uganda and other African producers that currently export their crude. Kenya does not produce oil commercially, but plans to restart exploration in the country's north in December.

Dangote warned against letting Africans cede control of major projects, referring to the public share offering for his Nigerian refinery as a way to give ordinary citizens a stake in the business. The Lamu project forms part of Dangote Group's plan to invest nearly $50 billion across Africa by 2030, a strategy aimed at placing Africans at the centre of the continent's development.

He said Africa needs foreign capital but argued that Africans must invest first, develop their own resources and show international partners where the opportunities lie. He also urged greater use of technology to lift productivity without cutting jobs, saying: "AI is not going to displace people." Africa, he added, must process more of its raw materials at home to keep jobs and economic value on the continent, especially as younger generations demand a bigger share of the benefits from natural resources.

The project already faces local hurdles. A court this week ordered that the "status quo" be maintained at the site while a lawsuit brought by residents claiming ownership of the land is resolved. Dangote told investors the groundbreaking would go ahead and that his company was "ready" to respond to the legal challenge.