en.Wedoany.com Reported - Nigerian billionaire Aliko Dangote plans to invest $15 billion to $17 billion in Mombasa, Kenya, to build a refinery with a daily capacity of 650,000 barrels, aiming to reduce East Africa's reliance on imported fuel.

According to a Financial Times report citing an interview with Dangote, the refinery ranks among the largest projects in Africa. Dangote stated that Mombasa has a larger and deeper port, making it a more favorable location than Tanzania's Tanga port. He noted that Kenya has higher consumption and a larger economy.

Dangote said, "I prefer Mombasa because Mombasa has a larger and deeper port." He added that the final decision will depend on the political direction of Kenyan President William Ruto, "The ball is in President Ruto's court. Whatever President Ruto says, I will do."

The project cost is estimated at $15 billion to $17 billion. Last month, President Ruto stated that East African nations were discussing building a joint refinery at Tanga port, a proposal modeled on Dangote's existing refinery in Nigeria.

East Africa currently relies entirely on imports for all refined petroleum products, mainly from the Middle East, exposing the region to risks of supply disruptions and price spikes, especially during times of geopolitical tension. Dangote said at an infrastructure summit in Nairobi last month that if supported by regional governments, he could replicate his 650,000 barrel-per-day refinery from Nigeria in East Africa.

Additionally, countries like Uganda are also working to build refineries to boost regional oil production and reduce import dependency.

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