Fuel flow
The African Export-Import Bank (Afreximbank) has thrown its weight behind Nigerian billionaire Aliko Dangote’s new oil refinery being built in Lamu in Kenya. Construction started on the East Africa Petroleum Refinery on 30 September. It is hoped it will process 700 000 barrels of crude oil a day, which will significantly improve energy security in the region, according to Africa Business... Read more → The post Fuel flow appeared first on African Insider.
Black News 
The African Export-Import Bank (Afreximbank) has thrown its weight behind Nigerian billionaire Aliko Dangote’s new oil refinery being built in Lamu in Kenya.
Construction started on the East Africa Petroleum Refinery on 30 September. It is hoped it will process 700 000 barrels of crude oil a day, which will significantly improve energy security in the region, according to Africa Business Communities.
Read more: Africa’s richest man Dangote awards US firm $300m contract for Kenya refinery
The US$16 billion refinery is reportedly part of a bigger industrial complex that will include power generation and related manufacturing facilities.
Afeximbank said the refinery could help retain more value from African resources by increasing domestic processing and supporting industrial supply chains. The crude oil is expected to be sourced from African producers, including Uganda.
The bank has invested about US$15 billion in the Dangote Group since 2015, including financing for the Dangote Petroleum Refinery and Petrochemicals Complex in Nigeria. As early as March this year, the bank underwrote US$2.5 billion of a US$4 billion senior syndicated term loan for the Nigerian refinery.
6 October 2026
Image: Unsplash
The post Fuel flow appeared first on African Insider.
