Ruto Reveals NIF Funding for Dangote-Linked Oil Refinery Project
The oil refinery project is expected to cost about Ksh 2.58 trillion (USD 20 billion), and Dangote is planning to put it in Mombasa, after ditching earlier plans for Tanga, Tanzania...
✨ Key Highlights
The Kenyan government will invest public funds from its National Infrastructure Fund (NIF) into a new Ksh 2.58 trillion oil refinery planned for East Africa, associated with Nigerian businessman Aliko Dangote.
- The Kenyan government plans to use NIF funds to co-invest in the refinery, aiming to de-risk the project and share in future profits.
- President William Ruto announced the investment, stating it will be sourced from the NIF, a Ksh 5 trillion infrastructure vehicle.
- The oil refinery project is estimated to cost USD 20 billion (Ksh 2.58 trillion) and may be located in Mombasa.
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Ruto Unveils NIF to Fund Infrastructure Projects - May 2026
Kenyan President William Ruto announced that the nation's new National Infrastructure Fund (NIF) has successfully mobilised approximately USD1 billion (Ksh129 billion) in its first four months, shifting infrastructure funding away from external lenders. The Kenyan government will invest public funds from its NIF into a new Ksh 2.58 trillion oil refinery planned for East Africa, associated with Nigerian businessman Aliko Dangote. Kenya Railways launched a Ksh65 billion urban mobility improvement project aimed at addressing transport challenges in Nairobi and four surrounding counties, supported by the World Bank.
