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Lamu refinery plan gets boost with Dangote's Sh130b underwriting

Dangote Foundation President Aliko Dangote during the 23rd edition of the Doha Forum 2025 at the Sheraton Grand Doha Resort & Convention Hotel in Doha, Qatar, on December 6, 2025. [AFP]

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 (Sh130  billion) underwriting programme for Dangote Petroleum Refinery, now structured as a single global initial public offering covering both the Nigerian plant and the proposed Kenyan facility.

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