Aliko Dangote, President of Dangote Industries Limited, has said his business group is prepared to face legal challenges over its investments, as plans for the proposed 700,000-barrel-per-day Lamu refinery in Kenya continue despite a land dispute. Speaking at a fireside chat at the Nairobi Securities Exchange, Dangote said his group had faced similar challenges in other African countries and remained committed to its expansion plans.

The comments came after Kenya’s Malindi Environment and Land Court ordered that the existing status of the land earmarked for the refinery be maintained ahead of a hearing scheduled for October 14. The case was filed by 133 residents of Chandavai in Lamu County, who argue that the land is ancestral property that has been occupied and farmed by their families for generations. Dangote Industries said the court order had not cancelled the planned groundbreaking ceremony, although activities at the site could be affected until the matter is heard.

Dangote, however, struck a confident tone, saying his group was accustomed to dealing with difficult situations across Africa. He cited a previous dispute in Senegal where one of the company’s factories was shut down for a year before the matter eventually reached the Supreme Court. “Anyone who wants to cause trouble, we are ready for them,” Dangote said, while maintaining that the Lamu project would proceed. The refinery, estimated to cost between $15bn and $16bn, is expected to be completed by 2030 and could require more than 60,000 workers during construction.

Beyond the refinery itself, Dangote disclosed plans to make the project part of Kenya’s capital market by listing it on the Nairobi Securities Exchange, rather than the Nigerian Exchange. He said the move would support deeper African capital-market integration and give more Africans an opportunity to participate in the ownership of major businesses. According to him, the group has already attracted strong investor demand, with a private placement initially targeting $1bn receiving interest of about $3.7bn.

Dangote also revealed that his group could significantly reduce its ownership stake in the refinery if demand from African investors continues to rise. After an initial $2.5bn fundraising plan, the company created an additional $1.6bn offering aimed at expanding public ownership. Dangote said he would be comfortable with his stake eventually falling to as low as 20 to 25 per cent, arguing that the broader goal was to “democratise wealth-making.” He added that shareholders would have the power to influence the company’s leadership through voting if they became dissatisfied with its performance.