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Kenyan parliamentary leaders have thrown their weight in the back of the Dangote East Africa Petroleum Refinery and Petrochemicals undertaking in Lamu and pledged fortify for the Dangote Petroleum Refinery and Petrochemicals preliminary public providing (IPO), a free up through the Dangote Workforce disclosed on Monday.
In line with the discharge signed through Mr. Anthony Chiejina, Head of Company Communications, the pledge used to be made through the Majority Chief of Kenya’s Nationwide Meeting, Kimani Ichung’wah, whilst main a parliamentary delegation on a consult with to the Dangote commercial complicated in Lagos.
The endorsement follows political grievance of the proposed Kenyan refinery and is derived because the ultimate date for Dangote’s IPO has been prolonged from October 13 to October 27, 2026.
Kenyan Lawmakers again Dangote funding:
Ichung’wah stated the delegation’s consult with used to be meant to reaffirm fortify for Dangote Workforce’s investments in Kenya and the broader East African area. The lawmakers toured the 700,000-barrel-per-day Dangote Petroleum Refinery, Dangote Fertiliser Restricted and supporting infrastructure in Lagos.
The delegation incorporated representatives of each the bulk and minority management, lawmakers from Turkana, Kenya’s oil-producing area, representatives of Lamu County and participants of the Nationwide Meeting’s Power Committee.
- “We’re right here to restate our fortify for the Dangote Workforce and their funding in Kenya, within the East African area, and likewise to fortify the IPO,” Ichung’wah stated.
The consult with comes after Kenyan President William Ruto and Aliko Dangote broke flooring at the Lamu refinery undertaking on September 30, 2026.
On the rite, Ruto disclosed that the Kenyan executive meant to spend money on the refinery in the course of the Nationwide Infrastructure Fund, along contributions involving state property corresponding to land.
The parliamentary delegation’s endorsement provides to the government’s stated commitment to the project, even supposing the main points and timing of the proposed state funding stay break free the lawmakers’ pledge.
Lamu Refinery faces political opposition:
The parliamentary consult with follows grievance of the refinery undertaking through Kenyan political figures adverse to President William Ruto. Days after the groundbreaking rite, presidential candidate Patrick Osoi warned Dangote towards dashing development and threatened to pressure him out of Kenya if he turned into president in February 2027.
Osoi argued that Kenyan businesspeople may just increase the refinery as an alternative, even supposing he didn’t provide an explanation for how a undertaking financed and advanced only through Kenyan buyers can be delivered.
Addressing considerations in regards to the undertaking’s long term underneath a conceivable trade of presidency, Ichung’wah argued that its financial and regional significance prolonged past any management.
- “It is a undertaking that transcends any management,” Ichung’wah stated.
- “This is a undertaking this is going to be impactful, now not simply to Kenya however to the area.”
Ichung’wah pointed to the presence of regional leaders on the Lamu groundbreaking as proof of the undertaking’s strategic significance and its possible to deepen regional integration.
He additionally recalled Dangote’s engagement with the Nairobi Securities Trade (NSE), throughout which the industrialist invited Kenyan and different East African buyers to take part within the public be offering.
The delegation’s place alerts fortify from the parliamentary leaders who attended the consult with, in spite of the political grievance surrounding the refinery undertaking.
Dangote IPO prolonged to October 27:
The endorsement coincides with the extension of the Dangote’s public offer closing date, which the Securities and Trade Fee (SEC) authorized. The be offering covers 4.1 billion bizarre stocks at N525 consistent with percentage, valued at about N2.15 trillion.
The applying duration, which opened on September 14, will now shut on October 27 as an alternative of October 13.
- Aliko Dangote stated subscriptions had already exceeded the unique fundraising goal. “Now we have finished a lot more than 3, 4 instances that quantity already. So, it’s now not in regards to the quantity. It’s in regards to the quantity of people who wish to take part on this be offering,” he stated.
He added that talks with the Trade had helped the Workforce determine a framework for wider investor participation, which it hopes to duplicate in different African capital markets. David Chook, Managing Director and Leader Govt Officer of Dangote Petroleum Refinery and Petrochemicals, stated the time beyond regulation would lend a hand convey extra buyers throughout Africa into the be offering.
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