ALIKO DANGOTE TO BREAK GROUND ON MASSIVE 16 BILLION DOLLAR EAST AFRICA OIL REFINERY
ALIKO DANGOTE TO BREAK GROUND ON MASSIVE 16 BILLION DOLLAR EAST AFRICA OIL REFINERY
Africa’s richest man Aliko Dangote has announced that construction on a massive 700,000 barrel-per-day oil refinery in Lamu, Kenya, will officially begin by October.
When a single billionaire decides to control the fuel tap from West to East Africa, you know monopoly power is expanding across the continent.
Speaking in an interview with the BBC, Dangote revealed that the total price tag for the East African mega-project has been slashed from 17 billion dollars down to 16 billion dollars.
Saving a billion dollars on paper sounds impressive, but ordinary citizens rarely see those corporate savings reflect at the local fuel pump.
Dangote explained that hard lessons learned from building his Lekki refinery in Nigeria will allow his company to complete the Kenyan facility in under four years.
African leaders love rolling out the red carpet for foreign billionaires while local business owners fight every day just to keep their lights on.
The massive facility is designed to serve as a regional energy hub, supplying fuel to Kenya, Uganda, Tanzania, South Sudan, and even Egypt.
Promises of energy self-sufficiency sound sweet in official speeches, but putting an entire region’s energy future into private hands carries a heavy risk.
When one billionaire holds the keys to the fuel supply of an entire continent, is that real economic progress or just dangerous corporate dominance?
– AsaliNews