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Originally published by The Standard BusinessAugust 21, 2026
3h ago
Lamu refinery plan gets boost with Dangote's Sh130b underwriting

President William Ruto's ambitious plan for a second Dangote refinery in Lamu has received a major boost after the successful completion of a $1 billion (Sh130Â billion) underwriting...
✨ Key Highlights
President William Ruto's initiative for a second Dangote refinery in Lamu has gained significant momentum following a $1 billion (Sh130 billion) underwriting program.
- The underwriting covers both the existing Nigerian plant and the planned Kenyan facility, now structured as a single global initial public offering.
- Key entities involved are Dangote Foundation President Aliko Dangote and the Kenyan government.
- This development signals a major boost for the ambitious refinery project in Lamu.
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