Lamu’s oil refinery to create 60,000 jobs, President Ruto promises
The head of state, who spoke during the NYOTA Tranche II disbursement, linked the proposed refinery to the government's broader industrialization agenda, arguing that large-scale infrastructure projects will play a critical role in creating jobs and attracting long-term investmen..
✨ Key Highlights
President William Ruto has announced that a new oil refinery planned for Lamu, developed with Nigerian billionaire Aliko Dangote, is expected to generate at least 60,000 jobs and establish Kenya as a regional energy hub.
- The project is projected to create approximately 60,000 jobs.
- Key players include President William Ruto and Aliko Dangote of the Dangote Group.
- The refinery, estimated to cost Sh2.2 trillion, will be the largest in East Africa, processing up to 700,000 barrels of crude oil daily.
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World Bank Warns Oil Price Shock Could Push 2.4 Million Kenyans Into Poverty - July 2026
The World Bank has issued a stark warning that rising global oil prices, exacerbated by conflict in the Middle East, could plunge between 1 million and 2.4 million more Kenyans into poverty this year. Meanwhile, President William Ruto announced that a new oil refinery planned for Lamu, developed with Nigerian billionaire Aliko Dangote, is expected to generate at least 60,000 jobs and establish Kenya as a regional energy hub. Separately, South Sudan is broadening its fuel import program to include more Kenyan and international oil marketers, aiming to break Pacific Petroleum's exclusive deal and stabilize fuel prices.
