The richest man in Africa, Aliko Dangote, has held talks with President Yoweri Museveni of Uganda on the proposed East African regional refinery.
Speaking after the meeting, Museveni confirmed his support of a regional refinery, saying that it is beneficial to the people.
“Today at Nakasero, I met Mr. Aliko Dangote, and we discussed the proposed East African regional refinery.
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I informed him that from the very beginning, we have always opposed the export of raw materials without value addition. That is why Uganda delayed oil production because we insisted on first having a refinery. Without refining our oil, it would not make economic or strategic sense to simply export crude oil while others benefit from the finished products.
I, therefore, welcomed the idea of a bigger regional refinery because our objective is African integration and shared prosperity. We cannot continue operating in fragmented and weak markets.
If East Africa works together, such projects become more viable and beneficial to our people. Uganda is ready to support the regional refinery initiative while also continuing with the development of our own refinery in Hoima,” said Museveni
The news comes at a time when Dangote confirmed plans to have a refinery in Mombasa that will supply 650,000 barrels per day, news that excited Kenyans who called for its immediate implementation.
Dangote has also been championing for a regional refinery, with previous discussions also revealing that it could be stationed in Tanzania.
