Dangote Plans 650,000bpd Refinery in East Africa, Seeks Regional Backing

Africa’s richest man, Aliko Dangote, has unveiled plans to establish a 650,000 barrels-per-day refinery in East Africa, in a move aimed at expanding his refining footprint beyond Nigeria and reducing the continent’s dependence on imported petroleum products.

Dangote made the disclosure on Thursday during a presidential panel at the Africa We Build Summit in Nairobi, organised by the Africa Finance Corporation, where he called for the support of East African governments to replicate the scale of his Lagos-based refinery.

He said his group was ready to deliver a similar project in the region if the necessary backing is provided.

“I can give commitment to the presidents here today that if they support the refinery, we will build the identical one that we have in Nigeria, a 650,000 barrels-per-day refinery. The discussions are still early, but it will work. There is nothing that can stop it,” Dangote said.

The proposal comes amid ongoing discussions involving Kenya, Uganda, and Tanzania to develop a joint refining hub in the port city of Tanga, which is expected to process crude oil from across the region, including supplies from the Democratic Republic of Congo and South Sudan.

Dangote expressed confidence in the feasibility of the project, citing his experience in delivering the 650,000bpd refinery in Lagos, widely regarded as Africa’s largest.

He further revealed that expansion works had already commenced in Nigeria to scale up refining capacity to 1.4 million barrels per day.

“We have already started piling for the expansion. We are building it to a scale of 1.4 million barrels per day. It will be the largest refinery globally,” he said, adding that the development would account for about 10 per cent of the United States’ refining capacity alongside significant petrochemical output.

The billionaire industrialist stressed the need for Africa to prioritise industrial self-sufficiency, warning that reliance on imports exposes economies to global price shocks.

“Look at what is happening today. If not for the local production of polypropylene in Nigeria, many businesses would have collapsed. In just 45 days, the price jumped from about $900 per tonne to nearly $3,000 per tonne. That tells you why we must build local capacity,” he said.

Dangote noted that improved financial capacity across Africa now makes large-scale industrial projects more feasible, compared to previous years when funding constraints posed major challenges.

“There was a time in Nigeria when interest rates were as high as 44 per cent. We had to rely on international institutions to raise funds for early projects. Today, the landscape has changed significantly,” he added.

He also disclosed plans to open up ownership of the refinery business to African investors, promising dollar-denominated returns.

“We want all Africans to invest. This is a continental asset, and we will be paying dividends in dollars,” he said.

On project timelines, Dangote said the proposed East African refinery could be delivered within four to five years once agreements are finalised with participating governments.

“My commitment is that if we agree with three or four governments in the region, we will lead the process and ensure that the refinery is built within the next four or five years,” he stated.

Earlier, William Ruto confirmed that talks were ongoing with Dangote and regional stakeholders on establishing the refinery in Tanga.

Dangote also announced plans to establish about 20 fertiliser blending plants across Africa by 2028, further expanding his industrial investments on the continent.

Energy experts say the proposed refinery, if realised, could significantly reshape Africa’s fuel supply chain, reduce import dependence, and strengthen regional energy security.

Wale Edun’s Exit and the Questions It Leaves Behind, by Boniface Ihiasota 

The sudden removal of Nigeria’s immediate past Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on April 21, 2026, has triggered widespread debate across political, economic and public spheres, owing largely to the manner of his exit and the absence of a clear, unified explanation from the government.

President Bola Ahmed Tinubu approved what was officially described as a “minor cabinet reshuffle,” which saw Edun and the Minister of Housing, Ahmed Musa Dangiwa, removed from the Federal Executive Council. The announcement was conveyed through a statement from the presidency on the same day, confirming that Edun’s tenure— which began in August 2023—had come to an abrupt end.

In his place, Taiwo Oyedele, who had only been appointed Minister of State for Finance in March 2026, was elevated to take over as substantive Minister of Finance and Coordinating Minister of the Economy. The speed of the transition, barely weeks after Oyedele’s earlier appointment, added to the perception that the reshuffle was more consequential than officially portrayed.

The circumstances surrounding Edun’s removal remain contested. While some official sources suggested he resigned on health grounds, other accounts describe his exit as a dismissal, with no detailed justification provided by the presidency. This lack of clarity has fueled speculation and competing narratives about the real reasons behind his departure.

Political reactions were swift. Former lawmaker Dino Melaye publicly questioned the rationale for the removal, alleging possible financial misconduct and calling for transparency from the government. Similarly, analysts and commentators pointed to deeper structural issues within Nigeria’s fiscal management system, including concerns over budget execution, debt levels, and revenue shortfalls, as possible contributing factors.

Indeed, Edun’s tenure had come under scrutiny in the months leading up to his removal. Reports indicated that the National Assembly had raised concerns about oil revenue gaps and Nigeria’s rising public debt profile, estimated at over ₦152 trillion, alongside challenges in funding budgetary commitments. These economic pressures formed the backdrop against which his exit occurred, suggesting that performance concerns may have played a role.

Beyond elite political discourse, the reaction within the Federal Ministry of Finance itself was unusually dramatic. A viral video showed some ministry staff staging what was described as a “mock funeral” to celebrate his removal, an episode that underscored internal dissatisfaction and hinted at crisis within the ministry’s bureaucracy. Such a public display is rare in Nigeria’s civil service and reflects the depth of sentiment surrounding his tenure.

Public opinion has been sharply divided. Some Nigerians view the move as a necessary reset in the face of persistent economic hardship, inflationary pressures, and slow fiscal reforms. Others interpret it as evidence of policy inconsistency within the administration, especially given that Edun was widely regarded as a key member of the President’s economic team and a central figure in coordinating reform efforts.

Economically, the implications are significant. Edun had been closely associated with major policy directions, including subsidy removal and fiscal consolidation. His removal raises questions about continuity, investor confidence, and the future direction of Nigeria’s economic reforms. Analysts note that abrupt leadership changes in critical economic portfolios often send mixed signals to both domestic and international stakeholders.

In the aftermath, attention has shifted to Oyedele’s capacity to stabilise the situation and deliver on expectations. As a tax reform expert, his appointment is seen by some as a pivot toward revenue mobilisation and structural reform. However, the broader challenge remains restoring confidence in economic governance at a time when Nigeria faces mounting fiscal constraints.

Ultimately, the unceremonious nature of Wale Edun’s exit—marked by conflicting official narratives, political controversy, and unusual institutional reactions—has made it more than a routine cabinet reshuffle. It has become a defining moment in the Tinubu administration’s economic management, exposing underlying challenges and raising critical questions about accountability, transparency, and policy direction in Africa’s largest economy.

Trump Seeks $152m to Reopen Alcatraz Prison, Faces Opposition

United States President, Donald Trump, has proposed a $152m (£115m) allocation in the 2027 fiscal budget to reopen the infamous Alcatraz Island prison, sparking criticism from lawmakers and policy experts.

The facility, located near the Golden Gate Bridge in San Francisco, was once one of America’s most notorious maximum-security prisons but has since been converted into a major tourist attraction.

According to details of the proposal, the funds would cover the first phase of rebuilding the prison into a “state-of-the-art secure facility,” as part of a broader $1.7bn investment plan for the Federal Bureau of Prisons.

However, the plan has drawn sharp criticism from several California politicians, including former Speaker of the House, Nancy Pelosi, who described the proposal as “absurd” and a waste of public funds.

Pelosi said, “Rebuilding Alcatraz into a modern prison is a stupid notion that would be nothing more than a waste of taxpayer dollars and an insult to the intelligence of the American people.”

The prison, which was shut down in 1963 due to high operational costs, is currently managed by the National Park Service and generates about $60m annually from tourism.

Critics have also highlighted logistical challenges, noting that the island lacks basic infrastructure such as running water and sewage systems, with all supplies needing to be transported by boat.

Historical data from the Bureau of Prisons indicates that Alcatraz was nearly three times more expensive to operate than other federal prisons before its closure.

Concerns have also been raised over the potential loss of a historic landmark if the site is reconverted into a correctional facility, a position echoed by several San Francisco officials.

Despite the backlash, Trump had earlier announced via his Truth Social platform that he had directed relevant agencies, including the Department of Justice, FBI, and Homeland Security, to commence plans to rebuild and expand the prison to house “America’s most ruthless and violent offenders.”

Originally established as a naval defence fort, Alcatraz later served as a military prison before becoming a federal penitentiary in the 1930s.

It once housed notorious criminals such as Al Capone, Mickey Cohen, and George Kelly.

The proposal is subject to approval by the US Congress.