https://en.sputniknews.africa/20250218/nigerian-billionaire-aliko-dangote-calls-his-23-billion-refinery-project-biggest-risk-of-his-life-1070705610.html
Nigerian Billionaire Aliko Dangote Calls His $23 Bln Refinery Project 'Biggest Risk' of His Life
Nigerian Billionaire Aliko Dangote Calls His $23 Bln Refinery Project 'Biggest Risk' of His Life
Sputnik Africa
Owned by Nigerian billionaire Aliko Dangote, the Dangote Petroleum Refinery was commissioned on May 22, 2023, in Lekki, Nigeria. It was operating at near full... 18.02.2025, Sputnik Africa
2025-02-18T16:06+0100
2025-02-18T16:06+0100
2025-02-18T16:18+0100
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Aliko Dangote, Africa's wealthiest man, has called his $23 billion Dangote Refinery project the biggest risk of his life, revealing the immense challenges involved in its construction. In a recent interview with US media, Dangote admitted that the project's failure would have been financially devastating.Despite the refinery's impressive 650,000 barrels-per-day capacity—making it Africa's largest—Dangote highlighted significant hurdles throughout the process. These included securing funding, navigating regulatory complexities, and establishing reliable supply chains. The billionaire criticized Africa's history as a "mere dumping ground for finished products" and emphasized the refinery's significance in enabling the continent to "refine its own crude oil, thereby creating wealth and prosperity for its vast population."Despite establishing a family office in Dubai and involving his daughters in the family business, Dangote remains intensely focused on Nigeria and the refinery's success, actively participating in its operations. He is also pursuing other ambitious projects, including a subsea natural gas pipeline and expanding the refinery's fertilizer plant.According to the US media report, Dangote plans to take the refinery public within the next one to two years, expressing unwavering confidence in his ability to overcome challenges, stating, "I’ve been fighting battles all my life and I have not lost one yet."
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Nigerian Billionaire Aliko Dangote Calls His $23 Bln Refinery Project 'Biggest Risk' of His Life
16:06 18.02.2025 (Updated: 16:18 18.02.2025) Muhammad Nooh Osman
Writer/Editor
Owned by Nigerian billionaire Aliko Dangote, the Dangote Petroleum Refinery was commissioned on May 22, 2023, in Lekki, Nigeria. It was operating at near full capacity by the end of 2024, with full capacity planned for the first quarter of 2025.
Aliko Dangote, Africa's wealthiest man, has called his $23 billion
Dangote Refinery project the biggest risk of his life, revealing the immense challenges involved in its construction. In a recent interview with US media, Dangote admitted that the project's failure would have been financially devastating.
Despite the refinery's impressive 650,000 barrels-per-day capacity—making it Africa's largest—Dangote highlighted significant hurdles throughout the process. These included securing funding, navigating regulatory complexities, and establishing reliable supply chains.
"We have to build our own nation by ourselves. We have to build our own continent by ourselves, not [rely on] foreign investment," he said, expressing his dedication to driving industrialization across Africa.
The billionaire
criticized Africa's history as a "mere dumping ground for finished products" and emphasized the refinery's significance in enabling the continent to "refine its own crude oil, thereby creating wealth and prosperity for its vast population."
Despite establishing a family office in Dubai and involving his daughters in the family business, Dangote remains intensely focused on Nigeria and the refinery's success, actively participating in its operations. He is also pursuing other ambitious projects, including a subsea natural gas pipeline and expanding the refinery's fertilizer plant.
According to the US media report, Dangote plans to take the refinery public within the next one to two years, expressing unwavering confidence in his ability to overcome challenges, stating, "I’ve been fighting battles all my life and I have not lost one yet."
