Dangote’s Lamu oil refinery to be constructed through debt, own financing

According to Business Daily, 70 percent of the project's financing, equivalent to about Sh1.45 trillion, will come through debt, based on a total project cost of Sh2 trillion, which was recently revised downwards from an earlier estimate of Sh2.2 trillion...

✨ Key Highlights

Dangote has announced that its new oil refinery in Lamu, Kenya, slated for construction to begin in October 2026, will be funded through a mix of debt and shareholder equity.

Approximately 70% of the total project cost, estimated at Sh1.45 trillion, will be secured through debt.
The remaining 30%, about Sh621 billion, will be financed by shareholders, including Aliko Dangote.
The refinery will have a daily processing capacity of 700,000 barrels, aiming to supply refined petroleum products to Kenya and its neighboring markets.

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