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...

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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.