Aliko Dangote, Africa's richest businessman, has commenced the construction of a $16 billion oil refinery in Kenya. The groundbreaking ceremony took place on Wednesday at Lamu Port in northern Kenya and was attended by Kenyan President William Ruto, former Nigerian President Olusegun Obasanjo, and other African leaders. The project is expected to become one of the largest investments in the region's energy sector and is scheduled for completion in 2030. According to Dangote, the refinery is intended to increase the supply of refined petroleum products within East Africa, reduce the region's reliance on imports, and help countries conserve foreign exchange spent on importing fuel.
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