Dangote Industries Limited is planning a significant expansion into East Africa with a proposed 700,000 barrel-per-day oil refinery on Lamu Island, Kenya. The project, estimated to cost up to $17 billion, aims to dominate the regional fuel supply market. Financing strategies reportedly include internal cash flow, bond issuance, and a potential IPO of the refinery unit, though Nigeria’s Securities and Exchange Commission has not yet received a formal listing application. The project faces challenges, including securing state incentives, potential anti-dumping protections, and strict environmental scrutiny due to the site’s UNESCO heritage status. Construction is expected to span three to five years.