Al Jazeera – Breaking News, World News and Video from Al Jazeera | Africa’s richest man plans new Mombasa oil refinery: Why this matters AI generated summary, Read the full article for complete information. Aliko Dangote, Africa’s richest man, has turned his newly operational 650,000‑barrel‑per‑day refinery in Lagos—completed in February 2026—into a regional energy lifeline as the war between the US, Israel and Iran disrupted oil flows through the Strait of Hormuz. The refinery, now the world’s largest single‑train plant, is supplying jet fuel, diesel and other products to Nigeria and neighboring West African states, and even attracting orders from beyond the continent, helping to cushion the sharp rise in global oil prices. Buoyed by this success, Dangote is planning a second mega‑refinery in East Africa, with Kenya’s port of Mombasa emerging as the preferred site because of its deeper harbor and larger market. The projected $15‑$17 billion project aims to reduce East African reliance on Middle‑Eastern imports, a vulnerability highlighted by recent supply shocks. Analysts note that while Africa refines only about 44 % of its own consumption, expanding local capacity could lower fuel prices, cut transport costs, and provide by‑products such as fertilisers and petrochemicals, but the venture will depend on navigating the region’s fragmented political and logistical landscape and on supportive government policies. Read more: https://www.aljazeera.com/economy/2026/5/12/africas-richest-man-plans-new-mombasa-oil-refinery-why-this-matters?traffic_source=rss #AlikoDangote #Nigeria #Kenya #Mombasa #WilliamRuto