Nigerian billionaire and industrialist Aliko Dangote has announced that his company has acquired a 25% stake in Kenya Pipeline Company (KPC), which transports petroleum products across the East African country.

Dangote disclosed the acquisition on Wednesday October 21, 2026, at the Financial Times Africa Summit in London, following an earlier announcement by Kenyan President William Ruto that private investors had acquired a stake in the country’s pipeline network.

In a speech on Tuesday, Kenya's President Ruto said private investors had purchased a 25% stake in the pipeline company from public entities but did not identify the investors.

The acquisition comes as Dangote expands his investments in Africa’s energy sector, following plans to establish a major oil refinery in Kenya.

Last month, the billionaire industrialist laid the foundation stone for a $16 billion refinery project at the port of Lamu in Kenya. The proposed facility is expected to have a refining capacity of 700,000 barrels per day.

At the time, Dangote said the project formed part of efforts to shift Africa away from exporting raw materials towards producing and exporting finished products.

Dangote already operates a refinery with a similar capacity near Lagos, Nigeria. The facility is among the largest in the world and forms a major part of his business empire.

His conglomerate also has interests in fertiliser production, cement, sugar and other sectors.

The acquisition of the stake in Kenya Pipeline Company follows the Kenyan government’s sale of a 65% stake in the company through an initial public offering (IPO) earlier in 2026.

The share sale was the country’s first major privatisation-related share offering in two decades and formed part of efforts to raise government revenue amid limited fiscal space.

The Kenya Pipeline Company plays a strategic role in transporting petroleum products, making it an important part of the country’s energy infrastructure.

MA

With additional files from Reuters

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