Dangote Calls $23bn Refinery the Biggest Risk of His Life

Billionaire Aliko Dangote has labeled his $23 billion refinery project as the biggest risk he’s ever taken.

He shared this in a recent interview, acknowledging the difficult journey to complete such a massive undertaking.

The refinery, with a capacity of 650,000 barrels per day, is set to be Africa’s largest.

Dangote discussed the various challenges, from financing to regulatory issues, as well as the difficulties in securing suppliers.

Dangote sees the refinery as a step toward Africa’s self-reliance, stating that the continent must build its own industries and stop depending on foreign investment.

He emphasized that this project is crucial for Africa to refine its own oil and create wealth for its people.

Despite facing setbacks, Dangote remains determined to make the refinery a success.

He continues to focus on the project, regularly meeting with engineers and managers, while also working on other initiatives like a subsea pipeline to bring natural gas to Lagos and expanding his fertilizer plant.

Dangote also plans to take the refinery public within the next couple of years.