Make Sh2 trillion Dangote oil refinery deal transparent

The excitement over the planned construction of the Sh2 trillion Dangote oil refinery in Lamu is understandable. This massive investment will have a huge impact on this country, the East African region, and beyond.

The mega foreign direct investment will boost the economy by refining 700,000 barrels of oil a day and employing thousands. Auxiliary industries dealing in chemicals and other by-products will also spring up. It will, indeed, become a major regional industrial milestone.

However, even setting up such a huge enterprise in the country is not a blank cheque. Some questions have arisen that need answers so that everything is done properly. It is, therefore, surprising that President William Ruto has accused the opposition of attempting to extort or undermine the venture by Nigerian billionaire Aliko Dangote. It is okay to protect investors, but such deals must not evade scrutiny. They need to be analysed to confirm the potential benefit, with comprehensive responses to any queries. If the regulatory agencies do their job well ahead of the launch of such projects, they need not be overly protected by the government.

No investor can commit such a fortune to a venture without potential returns. Also, the opposition or any other Kenyan has a right to ask for the details of such a mega investment in the country. While nobody is opposed to it, Parliament has not been given the details of the agreement.

There is, therefore, some explainable curiosity over what commitments the government may have given. Also being raised is the question of the source of the huge amounts of oil to be refined daily. But the Dangote Group says it will source crude oil from East Africa and supplement with imports from the Middle East and other international markets.

Everything should be done transparently in the national interest, as the people have a right to know.

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