President William Ruto has issued a stern warning to political figures and brokers attempting to derail the proposed Sh2.2 trillion Lamu oil refinery, declaring that his administration will actively protect strategic investments in Kenya.
Speaking in Kilifi during his Coast development tour, President Ruto defended the massive infrastructure project, which Kenya is developing in partnership with Nigerian industrialist Aliko Dangote. The president accused critics of sponsoring legal battles, staging political pressure campaigns, and demanding backroom equity stakes to block foreign direct investment.
“There are people who think they can sabotage investment in this refinery. I have seen them making all sorts of claims on social media and holding press conferences. I want to tell them that they cannot deceive us all the time,” Ruto said.
The president delivered his address just ahead of the scheduled groundbreaking for the mega facility, designed to refine up to 700,000 barrels of crude oil per day. Ruto outlined how the project will expand Kenya’s economy, create jobs, and establish the nation as a regional hub for petroleum processing.
“We support the refinery, we support the investment, ‘but’… ‘but’… ‘but’. We know what your ‘but’ means. You are the ones who have frustrated the refinery project through court cases…You are sponsoring the court cases because you are opposed to this investment because you have not got what you have been accustomed to getting. You are undermining investment in our country. I will not allow you to do that. I will not allow you to undermine investment in our country. You have had enough,” he added.
Calling Out Past Investment Losses
President Ruto targeted unnamed intermediaries whom he accused of forcing investors out of Kenya by demanding unearned shares and creating administrative hurdles.
He pointed to Dangote’s earlier attempt to construct a cement manufacturing facility in Kenya, stating that persistent share disputes forced the Nigerian investor to take his capital to other African nations.
Ruto also connected broker interference to Kenya losing the lucrative East African Crude Oil Pipeline project, which neighboring Uganda ultimately diverted through Tanzania.
“The same deception you have practiced is what has caused Kenya to miss out on investment. Dangote had intended to establish a cement company here. He was frustrated by people making all sorts of demands over shares. He was subjected to endless negotiations and conditions until he eventually went elsewhere,” he said.
“Similarly, Kenya was once expected to host an oil pipeline from Uganda that would transport crude oil through Mombasa. The same fraudulent share brokers and conmen frustrated our neighbouring country, Uganda, until the oil pipeline was eventually taken to Tanzania.”
Although the president did not name specific individuals or produce documentation during the speech, he affirmed that his team is monitoring developments closely to safeguard the Lamu project.
“I want to tell them that I am very alert. You will not exploit us here,” he said.
Surging Foreign Direct Investment Projections
Highlighting economic metrics, President Ruto reported that Kenya’s foreign direct investment grew from $1.6 billion in 2022 to $3.1 billion in 2025. He projected FDI inflows to reach between $6 billion and $7 billion over the next two years, driven largely by the Dangote refinery project.
He faulted past administrative practices for scaring away capital through bureaucratic demands rather than offering clear incentives.
“Investors do not want to be harassed or subjected to unnecessary conditions. They want incentives. They want the government to facilitate their investments rather than impose conditions on them,” Ruto said.
“Part of the reason our foreign direct investment has not reached the levels it should have is that we have had governments that, instead of facilitating investors and offering them incentives, have imposed conditions and made demands on them. That is how we have driven investment away from our country,” he added.
Public Ownership via the Nairobi Securities Exchange
Addressing concerns regarding ownership transparency, President Ruto confirmed that the national government will retain a state interest in the facility while opening ownership to the public through the Nairobi Securities Exchange (NSE).
“The refinery investment will be open and transparent. The Government of Kenya will have a stake in that refinery. All of you, as Kenyans, will have an opportunity to buy shares in the refinery transparently through our stock exchange, the Nairobi Securities Exchange, where the shares will be traded,” he said.
Ruto added that state agencies will conduct financial literacy campaigns to guide citizens on purchasing shares on the exchange.
“Do not pretend that you are the only clever people who understand how shares work. We will educate Kenyans, including those who do not know how to buy shares, so that they too can participate. Every Kenyan will have an opportunity to be part of this investment,” he said.
Regional Economic Impact and Local Community Scrutiny
The proposed facility plans to process crude oil from Kenya’s Turkana oilfields alongside regional imports, supplying refined products for domestic consumption and export markets.
While the administration positions the project as an economic engine, the development continues to face scrutiny from local residents and civil society groups in Lamu. Community representatives are calling for full project disclosures, environmental safeguards, fair land compensation, and structured public participation.
Despite ongoing land-related court challenges, President Ruto reiterated that the government will ensure the project moves forward without interference.
“You are undermining investment in our country. I will not allow you to do that. I will not allow you to undermine investment in our country. You have had enough,” he said.
The post Ruto: I Will Not Allow Anyone to Derail Dangote Lamu Refinery appeared first on Bossnana.
