Ruto warns against attempts to derail Sh2trn Dangote refinery

NAIROBI, Kenya Sep 29 – President William Ruto has warned individuals he accused of trying to frustrate the planned Sh2 trillion Dangote refinery in Lamu, as the mega project moves closer to its groundbreaking on Wednesday.

Speaking in Kilifi on Tuesday during the issuance of title deeds, Ruto said the refinery would transform Kenya’s economy and attract billions of shillings in foreign investment.

The President is scheduled to lead the groundbreaking ceremony for the East Africa Refinery in Lamu on.

The project, backed by Nigerian businessman Aliko Dangote, is expected to cost about Sh2.2 trillion and have a planned capacity of 700,000 barrels of crude oil per day.

“Tomorrow, God willing we will officially do the groundbreaking for the refinery in Lamu,” Ruto said.

He warned those opposing the investment against attempting to derail the project through what he described as demands for shares and other conditions.

“You will not succeed to con us or lie to us this time round,” the President said.

Ruto accused unnamed “brokers” of previously contributing to Kenya losing major investments, citing Dangote’s earlier attempt to establish a cement plant in Kenya and the decision to route Uganda’s crude oil pipeline through Tanzania instead.

“I am very alert and this time round you will not succeed,” he said.

Ruto said the government would ensure the refinery investment was structured transparently, adding that the Kenyan government would have a stake in the project.

He further said ordinary Kenyans would get an opportunity to buy shares through the Nairobi Securities Exchange.

“Investment ya refinery is an open, transparent investment. The government will have a stake at the refinery. Kenyans will too have an opportunity to buy shares in a very open and transparent manner at the Nairobi Securities Exchange,” Ruto said.

His remarks come as debate grows around investment opportunities linked to Dangote’s refinery projects.

The Nigerian Dangote Petroleum Refinery is currently conducting a major IPO, although Kenyan investors cannot currently subscribe to that offer directly through the NSE.

Ruto argued that Kenya needed to make it easier for investors to do business by offering incentives rather than imposing conditions that could drive investment elsewhere.

“The investor does not want to be troubled or given conditions, he only wants incentives,” he said.

The refinery is expected to support petroleum processing and related industries, while Lamu Port is expected to play a major role in handling cargo and marine operations linked to the project.

A vessel carrying about 2,930 tonnes of construction equipment for the refinery arrived at Lamu Port on Saturday.

The project has, however, faced legal challenges over land. A court recently directed parties to maintain the status quo on a disputed parcel in Lamu, while declining to stop the planned groundbreaking. The case is scheduled for further hearing on October 14.

Dangote Group has also confirmed that the court ruling will not stop Wednesday’s official groundbreaking ceremony, although it could affect some activities at the site.

Ruto maintained that his government would protect investments and ensure the Coast benefits from major economic projects.

“I will not allow you to undermine investments in our country. You have had enough,” he said.

He also said the refinery would create jobs and investment opportunities while helping position the Coast as an important economic hub.