The ownership and operations of the Dangote East Africa Refinery, whose construction will be launched on September 30, 2026, will be open and transparent, President William Ruto has said.
The President stated that the Government will have a stake in the landmark facility, and Kenyans will be given an opportunity to buy shares through the Nairobi Securities Exchange.
At the same time, the President issued a stern warning to individuals he accused of frustrating investors seeking opportunities in Kenya by making unreasonable demands and imposing selfish conditions.
He said such actions risk driving away capital and slowing the country’s economic transformation.
President Ruto made it clear that the Government will not allow profiteers to derail the refinery project.
He described the KSh2 trillion project as an economic game-changer for Kenya and the wider region.
“They cannot stop this project. I will make sure it succeeds,” he asserted.
He was speaking in Kilifi and Kwale counties on Tuesday on the fourth day of his Coast development tour.
The President said the people seeking to derail the refinery have been frustrating major investments, citing Nigeria businessman Aliko Dangote’s earlier efforts to establish a cement factory in Kenya and the proposed crude oil pipeline between Kenya and Uganda.
He said investors need an enabling environment rather than punitive demands.
“Investors need incentives, not conditions,” he said, explaining that the refinery will create significant economic opportunities for Kenyans and strengthen the country’s foreign reserves.
He explained that he would not allow anyone to demand shares from the investment, saying the Government has a stake in the refinery and some of these shares will be sold through the Nairobi Securities Exchange.
Pointing out that frustrating investors has led to declining foreign direct investment, the President said Kenya’s foreign direct investment was $1.6 billion in 2022 but has risen to $3.2 billion in 2025.
“Once the Dangote Refinery is operational, we expect to increase foreign direct investment to between $6 billion and $7 billion,” he said.
On the land question, President Ruto said his commitment to providing the land answer was not merely a campaign promise, but a deliberate desire to transform the Coast and restore the rights of residents who have endured decades of uncertainty over land ownership.
“The land challenges in this region have violated the rights of the people, causing widespread poverty and the spectre of constant evictions,” he said.
The President said the Government has allocated KSh10 billion towards resolving the land question and will continue funding the programme in the subsequent years.
To accelerate the adjudication of land which has been purchased by the Government, he said 300 Ministry of Lands officials have been deployed to the Coast.
