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Africa’s richest man plans new Mombasa oil refinery: Why this matters

Al Jazeera·Shola Lawal·21 days ago
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After successfully launching Nigeria’s only operational oil refinery in 2024, billionaire businessman Aliko Dangote has set his sights on East Africa as the next location for another mega refinery project, according to recent reports. It comes as African countries are actively seeking ways to make energy more secure, following huge global disruptions amid the US and Israel’s war on Iran and Tehran’s subsequent closure of the Strait of Hormuz, through which about 20 percent of the world’s oil and natural gas is shipped. Recommended Stories list of 3 items list 1 of 3 Trump says he will suspend petrol tax amid soaring US fuel prices list 2 of 3 US moves to release more oil stockpiles under IEA agreement list 3 of 3 ‘Whole morning revolves around gas’: Pakistan’s fuel crisis enters kitchens end of list Dangote, Africa’s richest man, appeared to be one of the winners from this fallout when his newly operational refinery, located in Nigeria’s commercial Lagos State, began selling large volumes of crude oil across…

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