Africa’s richest man, Aliko Dangote, is weighing plans to establish a major oil refinery in East Africa, with Mombasa in Kenya emerging as his preferred location.

In an interview reported by the Financial Times, the president of the Dangote Group said the coastal city’s deep seaport and the size of Kenya’s economy make it an attractive option for replicating the 650,000-barrel-per-day refinery he built in Nigeria.

Dangote noted that while regional leaders have discussed siting a joint refinery at Tanga in Tanzania, Kenya’s stronger consumption levels and port capacity give Mombasa an edge. He added that the final decision would depend largely on the position of Kenyan President William Ruto.

According to the report, the proposed refinery could cost between $15 billion and $17 billion to build.

The move comes as East African nations continue to rely heavily on imported refined petroleum products, mostly from the Middle East. This dependence has exposed the region to supply shocks and price volatility during periods of geopolitical tension.

Dangote had earlier indicated during a visit to Nairobi that he was prepared to duplicate the scale of his Nigerian refinery elsewhere in Africa if governments in the region provided the necessary backing and policy support.

If the plan proceeds, the refinery would mark one of the largest industrial investments in East Africa and could significantly reduce the region’s reliance on imported fuel while strengthening local refining capacity.