Africa Will Be Mostly Self-Sufficient In Fuel By 2030
Dangote said the $16 billion refinery will process 700,000 barrels per day and help Africa keep more value from its raw materials.
- On Tuesday, Aliko Dangote, President and Chief Executive Officer of the Dangote Group, announced a $16bn refinery project in Lamu, Kenya. Groundbreaking begins Wednesday.
- Dangote argues Africa must stop exporting raw materials at 5% to 10% of their value, then buying finished products at full price. By refining locally, he intends to stop 'importing poverty' and keep wealth on the continent.
- The plant will process 700,000 barrels per day, sourcing crude from the Middle East and the United States. It will also prepare to process increased production from Tanzania and Mozambique as East African nations expand output.
- Opposition from Greenpeace and pending land rights court cases challenge the project. Dangote dismissed concerns, stating "There are people who don't want the development of Africa."
- Responding to President Donald Trump's threats to stop exporting diesel, Dangote positioned the refinery as a necessary strategic response. He expects the project to attract additional industries to the region.
15 Articles
15 Articles
"By 2030, the majority of African countries will be self-sufficient in fuel," said Aliko Dangote, Nigerian businessman who, on Wednesday 30 September, laid the foundation stone for his future refinery in Lamu, Kenya, with a production target of 700,000 barrels per day. For the industrialist, self-sufficiency necessarily requires refining on the spot. But is this ambition realistic?
Dangote will place the first stone in that refinery, with a projected capacity of 700,000 barrels per day, on Wednesday. Works are expected to last about 30 months. Two weeks ago, the billionaire took out his mega-refinery of oil from the outskirts of Lagos, Nigeria, which has a capacity of 700,000 barrels per day. In an interview, Dangote pointed out that this plant is one of the efforts undertaken to stop the continent from exporting raw mater…
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